Wedbush Increases Ultimate Software Group Price Target to $139.00 (ULTI)
Stock analysts at Wedbush raised their price objective on shares of Ultimate Software Group (NASDAQ:ULTI) from $113.00 to $139.00 in a report issued on Thursday, AnalystRatings.NET reports. The firm currently has a “neutral” rating on the stock. Wedbush’s price target would suggest a potential downside of 9.03% from the company’s current price.
A number of other firms have also recently commented on ULTI. Analysts at Northland Securities raised their price target on shares of Ultimate Software Group from $140.00 to $165.00 in a research note to investors on Friday, October 18th. They now have a “buy” rating on the stock. Separately, analysts at Northland Capital Partners raised their price target on shares of Ultimate Software Group from $140.00 to $165.00 in a research note to investors on Friday, October 18th. They now have an “outperform” rating on the stock. Finally, analysts at Evercore Partners upgraded shares of Ultimate Software Group from an “equal weight” rating to an “overweight” rating in a research note to investors on Wednesday, October 16th. They now have a $165.00 price target on the stock, up previously from $101.00. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $146.36.
Shares of Ultimate Software Group (NASDAQ:ULTI) traded up 2.43% during mid-day trading on Thursday, hitting $152.80. The stock had a trading volume of 119,091 shares. Ultimate Software Group has a 52 week low of $85.08 and a 52 week high of $148.41. The stock’s 50-day moving average is $142.3 and its 200-day moving average is $117.. The company has a market cap of $4.253 billion and a P/E ratio of 207.76.
Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.30 by $0.04. The company had revenue of $97.50 million for the quarter, compared to the consensus estimate of $97.19 million. During the same quarter last year, the company posted $0.21 earnings per share. Ultimate Software Group’s revenue was up 23.2% compared to the same quarter last year.
The Ultimate Software Group, Inc (NASDAQ:ULTI) is a provider of cloud-based human capital management (HCM).
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