Coherent Price Target Increased to $70.00 by Analysts at Needham & Company (COHR)
Research analysts at Needham & Company lifted their price target on shares of Coherent (NASDAQ:COHR) from $65.00 to $70.00 in a report released on Friday, Analyst Ratings Network reports. The firm currently has a “buy” rating on the stock. Needham & Company’s price objective points to a potential upside of 7.99% from the company’s current price.
In other Coherent news, CEO John Ambroseo unloaded 60,491 shares of the stock on the open market in a transaction dated Thursday, October 31st. The stock was sold at an average price of $66.26, for a total value of $4,008,133.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Coherent (NASDAQ:COHR) opened at 64.82 on Friday. Coherent has a one year low of $39.25 and a one year high of $68.00. The stock has a 50-day moving average of $62.85 and a 200-day moving average of $58.60. The company has a market cap of $1.585 billion and a P/E ratio of 27.67.
Coherent (NASDAQ:COHR) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.16. The company had revenue of $213.10 million for the quarter, compared to the consensus estimate of $207.34 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts expect that Coherent will post $3.93 EPS for the current fiscal year.
Separately, analysts at Stifel Nicolaus raised their price target on shares of Coherent from $62.00 to $68.00 in a research note to investors on Monday, October 21st. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $72.00.
Coherent, Inc (NASDAQ:COHR) is a suppliers of photonics-based solutions in a range of commercial and scientific research applications.
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