Cray PT Raised to $37.00 at Needham & Company (CRAY)
Needham & Company lifted their target price on shares of Cray (NASDAQ:CRAY) from $30.00 to $37.00 in a research note issued on Friday, Stock Ratings Network reports. The firm currently has a “buy” rating on the stock. Needham & Company’s target price indicates a potential upside of 23.46% from the company’s current price.
Cray (NASDAQ:CRAY) traded up 27.23% during mid-day trading on Friday, hitting $38.13. 1,052,555 shares of the company’s stock traded hands. Cray has a 1-year low of $16.20 and a 1-year high of $32.70. The stock has a 50-day moving average of $29.73 and a 200-day moving average of $25.58. The company’s market cap is $1.457 billion.
Cray (NASDAQ:CRAY) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.09. The company had revenue of $307.40 million for the quarter, compared to the consensus estimate of $300.56 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 62.8% on a year-over-year basis. Analysts expect that Cray will post $0.87 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on CRAY. Analysts at Zacks upgraded shares of Cray from an “underperform” rating to a “neutral” rating in a research note on Tuesday, February 4th. They now have a $30.90 price target on the stock.
Cray Inc designs, develops, manufactures, markets and services high-performance computing (NASDAQ:CRAY), systems, including categories of systems commonly known as supercomputers and/or clusters, and provide storage solutions, software and engineering services related to HPC systems to its customers, which include government agencies and government-funded entities, academic institutions and commercial entities.
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