ARM Holdings plc Given New $60.00 Price Target at Canaccord Genuity (ARMH)
Canaccord Genuity increased their price target on shares of ARM Holdings plc (NASDAQ:ARMH) from $57.00 to $60.00 in a research note issued on Friday, American Banking News reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price objective would suggest a potential upside of 24.10% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank upgraded shares of ARM Holdings plc (NASDAQ:ARMH) from a “sell” rating to a “buy” rating in a research note to investors on Friday, August 30th. Separately, analysts at Benchmark Co. raised their price target on shares of ARM Holdings plc (NASDAQ:ARMH) from $45.00 to $48.00 in a research note to investors on Wednesday, July 24th. They now have a “buy” rating on the stock. Finally, analysts at Zacks upgraded shares of ARM Holdings plc (NASDAQ:ARMH) from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, July 9th. They now have a $40.80 price target on the stock.
Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $46.56.
Shares of ARM Holdings plc (NASDAQ:ARMH) traded down 0.39% on Friday, hitting $48.16. 129,459 shares of the company’s stock traded hands. ARM Holdings plc has a one year low of $27.12 and a one year high of $50.56. The stock has a 50-day moving average of $42.58 and a 200-day moving average of $42.25. The company has a market cap of $22.437 billion and a P/E ratio of 96.51.
ARM Holdings plc (NASDAQ:ARMH) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $171.20 million for the quarter, compared to the consensus estimate of $256.41 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was up 26.3% on a year-over-year basis. On average, analysts predict that ARM Holdings plc will post $1.03 earnings per share for the current fiscal year.
ARM Holdings plc (NASDAQ:ARMH) designs microprocessors, physical Internet protocol (IP) and related technology and software, and sells development tools.
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