Cerner Corp. Price Target Raised to $49.00 at Cowen and Company (CERN)
Analysts at Cowen and Company raised their target price on shares of Cerner Corp. (NASDAQ:CERN) from $48.00 to $49.00 in a research report issued to clients and investors on Friday, Analyst Ratings Network reports. The firm currently has a “market perform” rating on the stock. Cowen and Company’s price objective would indicate a potential downside of 12.70% from the company’s current price.
Shares of Cerner Corp. (NASDAQ:CERN) traded down 2.82% on Friday, hitting $56.13. 3,494,543 shares of the company’s stock traded hands. Cerner Corp. has a 1-year low of $33.82 and a 1-year high of $50.85. The stock’s 50-day moving average is $48.02 and its 200-day moving average is $47.6. The company has a market cap of $19.259 billion and a price-to-earnings ratio of 46.96.
Cerner Corp. (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $727.80 million for the quarter, compared to the consensus estimate of $757.20 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. Analysts expect that Cerner Corp. will post $1.41 EPS for the current fiscal year.
A number of other firms have also recently commented on CERN. Analysts at UBS AG reiterated a “neutral” rating on shares of Cerner Corp. in a research note to investors on Friday. They now have a $58.00 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Cerner Corp. in a research note to investors on Friday. They now have a $63.00 price target on the stock. Finally, analysts at ISI Group raised their price target on shares of Cerner Corp. from $58.00 to $60.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. Cerner Corp. presently has an average rating of “Hold” and an average target price of $71.10.
Cerner Corporation is a supplier of healthcare information technology solutions, services, devices and hardware.
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