Apple Given New $590.00 Price Target at Needham & Company (AAPL)
Research analysts at Needham & Company dropped their price target on shares of Apple (NASDAQ:AAPL) from $595.00 to $590.00 in a report released on Monday, Stock Ratings News reports. The firm currently has a “buy” rating on the stock. Needham & Company’s price target would indicate a potential upside of 13.53% from the stock’s previous close.
AAPL has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Apple in a research note to investors on Wednesday, February 5th. They now have a $534.00 price target on the stock. Separately, analysts at Thomson Reuters/Verus upgraded shares of Apple from a “hold” rating to a “buy” rating in a research note to investors on Monday, February 3rd. Finally, analysts at BNP Paribas reiterated an “outperform” rating on shares of Apple in a research note to investors on Friday, January 31st. They now have a $650.00 price target on the stock. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. Apple currently has a consensus rating of “Buy” and a consensus price target of $598.08.
Shares of Apple (NASDAQ:AAPL) traded up 1.46% on Monday, hitting $527.2482. 3,281,543 shares of the company’s stock traded hands. Apple has a one year low of $385.10 and a one year high of $575.14. The stock’s 50-day moving average is $538.4 and its 200-day moving average is $511.2. The company has a market cap of $470.3 billion and a P/E ratio of 12.92.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Monday, January 27th. The company reported $14.50 earnings per share for the quarter, beating the analysts’ consensus estimate of $14.05 by $0.45. The company had revenue of $57.59 billion for the quarter, compared to the consensus estimate of $57.46 billion. During the same quarter last year, the company posted $13.81 earnings per share. Apple’s revenue was up 5.7% compared to the same quarter last year. On average, analysts predict that Apple will post $42.80 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, February 13th. Stockholders of record on Monday, February 10th will be given a dividend of $3.05 per share. This represents a $12.20 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, February 6th.
Apple Inc (NASDAQ:AAPL) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications.
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