LeapFrog Enterprises Downgraded to “Neutral” at Ascendiant Capital Markets (LF)
LeapFrog Enterprises (NYSE:LF) was downgraded by investment analysts at Ascendiant Capital Markets from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports. They currently have a $8.00 price target on the stock, down from their previous price target of $12.00. Ascendiant Capital Markets’ price target indicates a potential downside of 12.57% from the stock’s previous close.
The analysts wrote, “Based on our proprietary channel checks, we believe that LeapFrog’s new LeapPad 2 Power and Ultra are facing lower consumer demand as compared with last year’s LeapPad 2. Despite management’s prior comments (in early August) that early sales of its new products (LeapReader, Ultra, Power) are positive and ahead of its expectations with sellouts, we note that LeapFrog’s products have consistently been available at Amazon.com [AMZN - Not Rated], Wal-Mart [WMT - Not Rated], Target [TGT - Not Rated], and Toysrus (which is in sharp contrasts with the steady sellouts of the LeapPad 2 last year).”
A number of other analysts have also recently weighed in on LF. Analysts at BMO Capital Markets downgraded shares of LeapFrog Enterprises from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday, September 3rd. They now have a $10.00 price target on the stock. Separately, analysts at Imperial Capital raised their price target on shares of LeapFrog Enterprises from $12.00 to $13.00 in a research note to investors on Monday, August 5th. They now have an “outperform” rating on the stock. Finally, analysts at Roth Capital raised their price target on shares of LeapFrog Enterprises from $12.00 to $14.00 in a research note to investors on Friday, August 2nd. They now have a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $11.86.
LeapFrog Enterprises (NYSE:LF) traded down 0.93% during mid-day trading on Wednesday, hitting $9.065. The stock had a trading volume of 2,532,032 shares. LeapFrog Enterprises has a 52-week low of $7.00 and a 52-week high of $11.95. The stock’s 50-day moving average is $9.60 and its 200-day moving average is $9.65. The company has a market cap of $619.7 million and a price-to-earnings ratio of 6.59.
LeapFrog Enterprises (NYSE:LF) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.04. The company had revenue of $83.00 million for the quarter, compared to the consensus estimate of $77.24 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. Analysts expect that LeapFrog Enterprises will post $0.63 EPS for the current fiscal year.
LeapFrog Enterprises, Inc (NYSE:LF) is a developer of educational entertainment for children.
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