Accuray Price Target Raised to $8.00 at Jefferies Group (ARAY)
Jefferies Group upped their target price on shares of Accuray (NASDAQ:ARAY) from $6.50 to $8.00 in a research note issued on Wednesday, StockRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s price target suggests a potential upside of 31.15% from the stock’s previous close.
The analysts wrote, “ARAY posted a good F4Q with a modest revenue beat, tighter expense controls, and another sequential uptick in bookings. Initial F14 guidance calls for continued order momentum albeit with a slightly higher opex run-rate. The continued bookings resurgence coupled with cost controls make the still distressed valuation increasingly unsustainable. We stay at Buy and PT goes to $8.”
Shares of Accuray (NASDAQ:ARAY) traded up 10.66% on Wednesday, hitting $6.75. 1,255,549 shares of the company’s stock traded hands. Accuray has a 52 week low of $3.76 and a 52 week high of $7.44. The stock’s 50-day moving average is $6.07 and its 200-day moving average is $5.20. The company’s market cap is $500.3 million.
Accuray (NASDAQ:ARAY) last issued its quarterly earnings data on Tuesday, August 27th. The company reported ($0.20) EPS for the quarter, meeting the Thomson Reuters consensus estimate of ($0.20). The company had revenue of $84.90 million for the quarter, compared to the consensus estimate of $82.29 million. During the same quarter last year, the company posted ($0.20) earnings per share. Accuray’s revenue was down 15.5% compared to the same quarter last year. On average, analysts predict that Accuray will post $-1.12 earnings per share for the current fiscal year.
Separately, analysts at Zacks reiterated a “neutral” rating on shares of Accuray in a research note to investors on Wednesday, July 10th. They now have a $5.75 price target on the stock.
One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $7.69.
Accuray, Inc manufactures image-guided radiosurgery devices. The Company is based in the United States and its core product, the CyberKnife Stereotactic Radiosurgery System, combines image-guidance with robotics to offer unparalleled flexibility and accuracy.
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