Ruckus Wireless Upgraded by Goldman Sachs Group Inc. to Buy (RKUS)
Ruckus Wireless (NASDAQ:RKUS) was upgraded by stock analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a report issued on Monday, TheFlyOnTheWall.com reports. The firm currently has a $18.25 price target on the stock, down from their previous price target of $41.00. Goldman Sachs Group Inc.’s target price would suggest a potential upside of 35.29% from the company’s current price.
Ruckus Wireless (NASDAQ:RKUS) traded up 3.45% on Monday, hitting $13.49. 2,029,536 shares of the company’s stock traded hands. Ruckus Wireless has a 52-week low of $10.24 and a 52-week high of $26.50. The stock’s 50-day moving average is $14.87 and its 200-day moving average is $14.20. The company has a market cap of $1.065 billion and a price-to-earnings ratio of 420.65.
Ruckus Wireless (NASDAQ:RKUS) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.04 by $0.01. The company had revenue of $68.90 million for the quarter, compared to the consensus estimate of $67.81 million. During the same quarter last year, the company posted $0.11 earnings per share. Ruckus Wireless’s revenue was up 17.6% compared to the same quarter last year. On average, analysts predict that Ruckus Wireless will post $0.18 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Stifel Nicolaus initiated coverage on shares of Ruckus Wireless in a research note to investors on Wednesday, November 27th. They set a “buy” rating and a $17.00 price target on the stock. Separately, analysts at Piper Jaffray raised their price target on shares of Ruckus Wireless from $17.50 to $20.00 in a research note to investors on Thursday, October 31st. They now have an “overweight” rating on the stock. Finally, analysts at Needham & Company raised their price target on shares of Ruckus Wireless from $17.00 to $18.00 in a research note to investors on Thursday, October 31st. They now have a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $18.56.
In other Ruckus Wireless news, VP Barton Burstein sold 100,000 shares of the company’s stock on the open market in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $12.54, for a total transaction of $1,254,000.00. Following the sale, the vice president now directly owns 22,500 shares of the company’s stock, valued at approximately $282,150. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Ruckus Wireless, Inc (NASDAQ:RKUS) is a provider of Wi-Fi solutions.
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