Finisar Corp. Lowered to “Neutral” at Zacks (FNSR)
Finisar Corp. (NASDAQ:FNSR) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Wednesday, AnalystRatingsNetwork reports. They currently have a $26.70 price target on the stock. Zacks‘ target price points to a potential upside of 23.27% from the company’s current price.
Finisar Corp. (NASDAQ:FNSR) traded up 0.83% on Wednesday, hitting $21.84. 2,264,710 shares of the company’s stock traded hands. Finisar Corp. has a 52-week low of $12.17 and a 52-week high of $26.66. The stock’s 50-day moving average is $23.37 and its 200-day moving average is $22.42. The company has a market cap of $2.099 billion and a P/E ratio of 37.22.
Finisar Corp. (NASDAQ:FNSR) last announced its earnings results on Thursday, December 5th. The company reported $0.43 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.30 by $0.13. The company had revenue of $290.72 million for the quarter, compared to the consensus estimate of $263.15 million. During the same quarter last year, the company posted $0.15 earnings per share. Finisar Corp.’s revenue was up 25.3% compared to the same quarter last year. Analysts expect that Finisar Corp. will post $1.59 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James upgraded shares of Finisar Corp. from an “outperform” rating to a “strong-buy” rating in a research note to investors on Friday, January 3rd. They now have a $29.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Finisar Corp. from $30.00 to $32.00 in a research note to investors on Friday, December 6th. They now have an “overweight” rating on the stock. Finally, analysts at MKM Partners cut their price target on shares of Finisar Corp. from $30.00 to $27.00 in a research note to investors on Friday, November 22nd. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $26.02.
Finisar Corporation develops and provides fiber optic subsystems and network performance test systems which enable data communications over local area networks, or LANs, and storage area networks, or SANs.
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