Cbeyond Stock Rating Lowered by Zacks (CBEY)
Cbeyond (NASDAQ:CBEY) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Friday, Analyst Ratings News reports. They currently have a $6.60 target price on the stock. Zacks‘ price target indicates a potential downside of 5.31% from the company’s current price.
In other Cbeyond news, CEO James Geiger sold 15,929 shares of Cbeyond stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $6.73, for a total transaction of $107,202.17. Following the completion of the transaction, the chief executive officer now directly owns 598,827 shares of the company’s stock, valued at approximately $4,030,106. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Cbeyond (NASDAQ:CBEY) traded down 0.29% on Friday, hitting $6.95. 106,789 shares of the company’s stock traded hands. Cbeyond has a 1-year low of $5.39 and a 1-year high of $9.60. The stock has a 50-day moving average of $6.35 and a 200-day moving average of $6.85. The company’s market cap is $207.6 million.
Cbeyond (NASDAQ:CBEY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by $0.10. The company had revenue of $113.73 million for the quarter, compared to the consensus estimate of $116.27 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was down 6.4% on a year-over-year basis.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group initiated coverage on shares of Cbeyond in a research note to investors on Thursday, December 19th. They set a “hold” rating on the stock. Separately, analysts at Davidson upgraded shares of Cbeyond to a “buy” rating in a research note to investors on Monday, December 16th. Finally, analysts at DA Davidson upgraded shares of Cbeyond from a “neutral” rating to a “buy” rating in a research note to investors on Monday, December 16th. They now have a $8.00 price target on the stock, up previously from $6.00. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $7.06.
Cbeyond, Inc provides integrated communications services. The Company offers an integrated package of local and long distance telephony services, T-1 Internet access and Internet-based applications to small and medium sized businesses.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.