Rambus Upgraded by Zacks to Outperform (RMBS)
Rambus (NASDAQ:RMBS) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued on Monday, American Banking News reports. The firm currently has a $10.40 target price on the stock. Zacks‘ target price suggests a potential upside of 9.65% from the company’s current price.
Shares of Rambus (NASDAQ:RMBS) traded down 2.48% during mid-day trading on Monday, hitting $9.25. 674,599 shares of the company’s stock traded hands. Rambus has a 52-week low of $4.01 and a 52-week high of $10.85. The stock’s 50-day moving average is $9.04 and its 200-day moving average is $8.43. The company’s market cap is $1.042 billion.
Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Thursday, October 17th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.17. The company had revenue of $73.30 million for the quarter, compared to the consensus estimate of $70.50 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was up 27.5% on a year-over-year basis.
Other equities research analysts have also recently issued reports about the stock. Analysts at Thomson Reuters/Verus downgraded shares of Rambus from a “buy” rating to a “hold” rating in a research note to investors on Monday, September 9th. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Rambus from $10.00 to $12.00 in a research note to investors on Wednesday, July 24th. They now have an “overweight” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Rambus presently has an average rating of “Buy” and a consensus price target of $11.80.
Rambus Inc (NASDAQ:RMBS) is a technology solutions company.
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