Apple PT Raised to $560.00 (AAPL)
Analysts at Canaccord Genuity increased their price target on shares of Apple (NASDAQ:AAPL) from $550.00 to $560.00 in a research report issued to clients and investors on Tuesday, ARN reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s target price indicates a potential upside of 14.50% from the company’s current price.
A number of other analysts have also recently weighed in on AAPL. Analysts at Barclays Capital raised their price target on shares of Apple (NASDAQ:AAPL) from $525.00 to $540.00 in a research note to investors on Tuesday. They now have an “overweight” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. raised their price target on shares of Apple (NASDAQ:AAPL) from $530.00 to $560.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at Susquehanna upgraded shares of Apple (NASDAQ:AAPL) from a “neutral” rating to a “positive” rating in a research note to investors on Tuesday. They now have a $625.00 price target on the stock, up previously from $440.00.
Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, forty have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $551.02.
Shares of Apple (NASDAQ:AAPL) traded down 0.31% on Tuesday, hitting $489.10. The stock had a trading volume of 13,012,249 shares. Apple has a 52-week low of $385.10 and a 52-week high of $692.78. The stock’s 50-day moving average is $483.9 and its 200-day moving average is $446.. The company has a market cap of $444.3 billion and a P/E ratio of 12.23. Apple also was the recipient of unusually large options trading activity on Monday. Traders purchased 280,512 call options on the stock. This is an increase of 653% compared to the typical daily volume of 37,232 call options.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 23rd. The company reported $7.47 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $9.32 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts predict that Apple will post $39.17 earnings per share for the current fiscal year.
In other Apple news, SVP D Bruce Sewell unloaded 12,314 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $489.17, for a total value of $6,023,639.38. The transaction was disclosed in a document filed with the SEC, which is available at this link.
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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