Procera Networks PT Lowered to $16.00 (PKT)
Investment analysts at Davidson decreased their target price on shares of Procera Networks (NYSE:PKT) from $19.00 to $16.00 in a note issued to investors on Thursday, StockRatingsNetwork.com reports. Davidson’s target price would suggest a potential upside of 40.60% from the company’s current price.
Shares of Procera Networks (NYSE:PKT) traded down 3.49% on Thursday, hitting $11.34. 961,110 shares of the company’s stock traded hands. Procera Networks has a one year low of $10.12 and a one year high of $18.37. The stock’s 50-day moving average is $14.40 and its 200-day moving average is $14.28. The company’s market cap is $230.7 million.
Procera Networks (NYSE:PKT) last released its earnings data on Monday, November 4th. The company reported ($0.01) earnings per share for the quarter, beating the analysts’ 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 in the prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 32.8% on a year-over-year basis. Analysts expect that Procera Networks will post $-0.14 EPS for the current fiscal year.
PKT has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Procera Networks from a “neutral” rating to an “outperform” rating in a research note to investors on Monday. They now have a $16.20 price target on the stock. 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 investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $18.69.
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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