Procera Networks Upgraded to “Outperform” by Zacks (PKT)
Procera Networks (NYSE:PKT) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report released on Monday, StockRatingsNetwork reports. The firm currently has a $16.20 price objective on the stock. Zacks‘ price objective would indicate a potential upside of 8.58% from the stock’s previous close.
Shares of Procera Networks (NYSE:PKT) traded down 0.40% on Monday, hitting $14.86. 103,976 shares of the company’s stock traded hands. Procera Networks has a 1-year low of $10.12 and a 1-year high of $18.40. The stock’s 50-day moving average is $14.58 and its 200-day moving average is $14.30. The company’s market cap is $302.3 million.
Procera Networks (NYSE:PKT) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.05. The company had revenue of $21.33 million for the quarter, compared to the consensus estimate of $20.61 million. During the same quarter last year, the company posted $0.18 earnings per share. Procera Networks’s revenue was up 32.8% compared to the same quarter last year. On average, analysts predict that Procera Networks will post $-0.07 earnings per share for the current fiscal year.
Separately, analysts at DA Davidson initiated coverage on shares of Procera Networks in a research note to investors on Friday, December 13th. They set a “buy” rating and a $19.00 price target on the stock. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Procera Networks currently has an average rating of “Buy” and a consensus target price of $19.03.
Procera Networks, Inc (NYSE:PKT) is a provider of intelligent policy enforcement solutions that enables mobile and broadband network operators and entities managing private networks, including higher education institutions, businesses and government entities to gain control of their networks.
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