WageWorks Receives New Coverage from Analysts at SunTrust (WAGE)
Analysts at SunTrust initiated coverage on shares of WageWorks (NASDAQ:WAGE) in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of WageWorks from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, October 2nd. They now have a $55.50 price target on the stock. Separately, analysts at JMP Securities raised their price target on shares of WageWorks from $29.00 to $40.00 in a research note to investors on Thursday, August 8th. They now have a “market outperform” rating on the stock. Finally, analysts at Needham & Company raised their price target on shares of WageWorks from $30.00 to $40.00 in a research note to investors on Thursday, August 8th. They now have a “buy” rating on the stock. Five investment analysts have rated the stock with a buy rating, WageWorks presently has an average rating of “Buy” and a consensus target price of $42.63.
WageWorks (NASDAQ:WAGE) traded down 0.42% on Friday, hitting $52.19. The stock had a trading volume of 242,801 shares. WageWorks has a 52-week low of $16.60 and a 52-week high of $50.33. The stock has a 50-day moving average of $41.57 and a 200-day moving average of $31.76. The company has a market cap of $1.765 billion and a price-to-earnings ratio of 118.31.
WageWorks (NASDAQ:WAGE) last announced its earnings results on Wednesday, August 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. The company had revenue of $54.56 million for the quarter, compared to the consensus estimate of $52.43 million. WageWorks’s revenue was up 24.6% compared to the same quarter last year.
WageWorks, Inc is an on-demand provider of tax-advantaged programs for consumer-directed health, commuter and other employee spending account benefits (NASDAQ:WAGE), in the United States.
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