Lazard Capital Markets Reiterates “$570.00″ Price Target for Apple (AAPL)
Research analysts at Lazard Capital Markets set a $570.00 price objective on shares of Apple (NASDAQ:AAPL) stock in a report released on Wednesday, AnalystRatings.Net reports. Lazard Capital Markets’ target price would indicate a potential upside of 15.24% from the company’s current price.
AAPL has been the subject of a number of other recent research reports. Analysts at Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Apple (NASDAQ:AAPL) in a research note to investors on Wednesday. They now have a $530.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Apple (NASDAQ:AAPL) in a research note to investors on Wednesday. They now have a $480.00 price target on the stock. Finally, analysts at Nomura reiterated a “neutral” rating on shares of Apple (NASDAQ:AAPL) in a research note to investors on Wednesday. They now have a $480.00 price target on the stock, up previously from $420.00.
Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, forty have issued a buy rating and three have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $550.18.
Apple (NASDAQ:AAPL) opened at 494.64 on Wednesday. Apple has a 1-year low of $385.10 and a 1-year high of $705.07. The stock’s 50-day moving average is $478.3 and its 200-day moving average is $443.9. The company has a market cap of $449.4 billion and a price-to-earnings ratio of 12.33. Apple also was the target of some unusual options trading activity on Monday. Stock traders bought 163,410 call options on the stock. This represents an increase of 345% compared to the typical daily volume of 36,746 call options.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 23rd. The company reported $7.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $7.28 by $0.19. The company had revenue of $35.32 billion for the quarter, compared to the consensus estimate of $35.01 billion. During the same quarter last year, the company posted $9.32 earnings per share. Apple’s revenue was up .9% compared to the same quarter last year. Analysts expect that Apple will post $39.08 EPS for the current fiscal year.
Apple Inc (NASDAQ:AAPL) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications.
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