NETGEAR Price Target Cut to $35.00 by Analysts at Lazard Capital Markets (NTGR)
Equities research analysts at Lazard Capital Markets decreased their price target on shares of NETGEAR (NASDAQ:NTGR) from $40.00 to $35.00 in a research note issued to investors on Friday, Stock Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Lazard Capital Markets’ target price would suggest a potential upside of 20.36% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Wedbush downgraded shares of NETGEAR from an “outperform” rating to a “neutral” rating in a research note to investors on Friday. They now have a $31.00 price target on the stock, down previously from $36.00. Separately, analysts at Raymond James initiated coverage on shares of NETGEAR in a research note to investors on Thursday, September 26th. They set an “outperform” rating and a $35.00 price target on the stock. Finally, analysts at Zacks upgraded shares of NETGEAR from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, September 26th. They now have a $31.30 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $33.16.
Shares of NETGEAR (NASDAQ:NTGR) opened at 29.08 on Friday. NETGEAR has a 52-week low of $26.82 and a 52-week high of $40.97. The stock has a 50-day moving average of $29.67 and a 200-day moving average of $31.61. The company has a market cap of $1.124 billion and a price-to-earnings ratio of 18.16.
NETGEAR (NASDAQ:NTGR) last announced its earnings results on Thursday, October 24th. The company reported $0.58 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.58. The company had revenue of $361.90 million for the quarter, compared to the consensus estimate of $354.07 million. During the same quarter last year, the company posted $0.65 earnings per share. NETGEAR’s revenue was up 14.8% compared to the same quarter last year. Analysts expect that NETGEAR will post $2.31 EPS for the current fiscal year.
In other NETGEAR news, Director Jef Graham unloaded 6,000 shares of NETGEAR stock on the open market in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $32.00, for a total value of $192,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
NETGEAR, Inc is a global networking company that delivers products to consumers, businesses and service providers.
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