Finisar Corp. Stock Rating Upgraded by Jefferies Group (FNSR)
Finisar Corp. (NASDAQ:FNSR) was upgraded by equities research analysts at Jefferies Group from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $30.00 price objective on the stock, up from their previous price objective of $24.00. Jefferies Group’s price objective would indicate a potential upside of 29.31% from the stock’s previous close.
FNSR has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of Finisar Corp. from an “outperform” rating to a “neutral” rating in a research note on Wednesday, February 5th. They now have a $26.70 price target on the stock. Separately, analysts at Raymond James upgraded shares of Finisar Corp. from an “outperform” rating to a “strong-buy” rating in a research note on Friday, January 3rd. They now have a $29.00 price target on the stock. Finally, analysts at Barclays raised their price target on shares of Finisar Corp. from $30.00 to $32.00 in a research note on Friday, December 6th. They now have an “overweight” rating on the stock. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Finisar Corp. has a consensus rating of “Buy” and a consensus target price of $26.64.
Shares of Finisar Corp. (NASDAQ:FNSR) traded up 3.32% during mid-day trading on Tuesday, hitting $23.20. 2,979,585 shares of the company’s stock traded hands. Finisar Corp. has a one year low of $12.17 and a one year high of $26.66. The stock’s 50-day moving average is $23.29 and its 200-day moving average is $22.52. The company has a market cap of $2.230 billion and a P/E ratio of 38.58.
Finisar Corp. (NASDAQ:FNSR) last announced its earnings results on Thursday, December 5th. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.15 earnings per share. The company’s quarterly revenue was up 25.3% on a year-over-year basis. On average, analysts predict that Finisar Corp. will post $1.59 earnings per share for the current fiscal year.
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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