NETGEAR Receives New Coverage from Analysts at Raymond James (NTGR)
Investment analysts at Raymond James assumed coverage on shares of NETGEAR (NASDAQ:NTGR) in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $35.00 price target on the stock. Raymond James’ price objective would suggest a potential upside of 17.37% from the stock’s previous close.
The analysts wrote, “We are initiating coverage of shares of NTGR with an Outperform rating and $35 price target. As a leading global provider of network access, storage and other devices, we expect NETGEAR’s recent underperformance to reverse as several upcoming technology transitions rekindle growth. Given today’s valuation and management’s newfound focus on returns as well as growth, we believe NTGR shares are presently an attractive risk/reward opportunity.”
Shares of NETGEAR (NASDAQ:NTGR) traded up 5.67% during mid-day trading on Thursday, hitting $31.51. 309,536 shares of the company’s stock traded hands. NETGEAR has a one year low of $26.82 and a one year high of $40.97. The stock has a 50-day moving average of $29.68 and a 200-day moving average of $31.37. The company has a market cap of $1.218 billion and a P/E ratio of 16.85.
NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.62 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.56 by $0.06. The company had revenue of $357.70 million for the quarter, compared to the consensus estimate of $353.28 million. During the same quarter last year, the company posted $0.64 earnings per share. NETGEAR’s revenue was up 11.5% compared to the same quarter last year.
NTGR has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of NETGEAR (NASDAQ:NTGR) from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $31.30 price target on the stock. Finally, analysts at Wedbush cut their price target on shares of NETGEAR (NASDAQ:NTGR) from $38.00 to $36.00 in a research note to investors on Friday, July 26th. They now have an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $34.41.
NETGEAR, Inc is a global networking company that delivers products to consumers, businesses and service providers.
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