Procera Networks Stock Rating Lowered by Zacks (PKT)
Procera Networks (NYSE:PKT) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Tuesday, Analyst Ratings Network reports. They currently have a $14.50 price objective on the stock. Zacks‘ price objective suggests a potential upside of 7.65% from the company’s current price.
A number of other analysts have also recently weighed in on PKT. Analysts at Raymond James raised their price target on shares of Procera Networks (NYSE:PKT) from $16.00 to $18.00 in a research note to investors on Thursday, August 8th. Separately, analysts at Northland Capital Partners raised their price target on shares of Procera Networks (NYSE:PKT) from $19.00 to $21.00 in a research note to investors on Tuesday, August 6th. They now have an “outperform” rating on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of Procera Networks (NYSE:PKT) from $14.00 to $18.00 in a research note to investors on Wednesday, July 17th. They now have a “buy” rating on the stock.
Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $18.79.
Shares of Procera Networks (NYSE:PKT) traded up 7.31% during mid-day trading on Tuesday, hitting $14.455. The stock had a trading volume of 238,460 shares. Procera Networks has a 52 week low of $10.12 and a 52 week high of $24.86. The stock’s 50-day moving average is $13.71 and its 200-day moving average is $13.3. The company’s market cap is $293.6 million.
Procera Networks (NYSE:PKT) last announced its earnings results on Wednesday, August 7th. The company reported ($0.02) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.04) by $0.02. The company had revenue of $17.80 million for the quarter, compared to the consensus estimate of $17.20 million. During the same quarter last year, the company posted $0.08 earnings per share. Procera Networks’s revenue was up 21.1% compared to the same quarter last year. On average, analysts predict that Procera Networks will post $-0.09 earnings per share for the current fiscal year.
Procera Networks, Inc (NYSE:PKT) is a provider of intelligent policy enforcement solutions that enables mobile and broadband network operators and entities managing private networks, including higher education institutions, businesses and government entities to gain control of their networks.
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