Juniper Networks Upgraded to “Outperform” by Zacks (JNPR)
Juniper Networks (NYSE:JNPR) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Friday, Analyst Ratings News reports. The firm currently has a $32.00 target price on the stock. Zacks‘ target price suggests a potential upside of 18.47% from the company’s current price.
Zacks‘ analyst wrote, “We upgrade Juniper shares to Outperform as the company reported better-than-expected fourth-quarter results and also provided decent first-quarter guidance. We believe the increased spending by service providers should support the company’s near-term fundamentals. Juniper’s expansion into the software defined networking segment is expected to strengthen its position in the networking space. Moreover, strategic cost-cutting methods and the expected measures to boost shareholder value are the other growth catalysts. However, increasing competition, uncertain economic conditions and constricted federal spending remain the possible headwinds.”
In other Juniper Networks news, EVP Mitchell Gaynor sold 250,000 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $27.40, for a total value of $6,850,000.00. Following the completion of the transaction, the executive vice president now directly owns 13,372 shares in the company, valued at approximately $366,393. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of other firms have also recently commented on JNPR. Analysts at TheStreet upgraded shares of Juniper Networks to a “buy” rating in a research note to investors on Monday, January 27th. Separately, analysts at Deutsche Bank raised their price target on shares of Juniper Networks from $19.00 to $26.00 in a research note to investors on Friday, January 24th. They now have a “hold” rating on the stock. Finally, analysts at Jefferies Group raised their EPS on shares of Juniper Networks in a research note to investors on Friday, January 24th. They now have a “hold” rating and a $25.50 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Juniper Networks currently has an average rating of “Hold” and an average target price of $27.53.
Shares of Juniper Networks (NYSE:JNPR) traded up 0.59% on Friday, hitting $27.17. The stock had a trading volume of 3,454,769 shares. Juniper Networks has a 1-year low of $15.62 and a 1-year high of $28.75. The stock’s 50-day moving average is $24.67 and its 200-day moving average is $21.40. The company has a market cap of $13.536 billion and a P/E ratio of 31.14.
Juniper Networks (NYSE:JNPR) last released its earnings data on Thursday, January 23rd. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.37 by $0.06. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Analysts expect that Juniper Networks will post $1.45 EPS for the current fiscal year.
Juniper Networks, Inc (NYSE:JNPR) designs, develops, and sells products and services that together provide its customers with network infrastructure.
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.