Mavenir Systems Given New $16.00 Price Target at Needham & Company (MVNR)
Equities researchers at Needham & Company lifted their price objective on shares of Mavenir Systems (NASDAQ:MVNR) from $14.00 to $16.00 in a research report issued on Friday, AnalystRatings.Net reports. Needham & Company’s target price points to a potential upside of 6.74% from the company’s current price.
Mavenir Systems (NASDAQ:MVNR) traded up 6.31% on Friday, hitting $14.99. The stock had a trading volume of 194,847 shares. Mavenir Systems has a 1-year low of $8.50 and a 1-year high of $15.45. The stock’s 50-day moving average is $12.54 and its 200-day moving average is $11.31. The company’s market cap is $348.9 million.
Mavenir Systems (NASDAQ:MVNR) last announced its earnings results on Thursday, February 20th. The company reported ($0.08) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.12) by $0.04. The company had revenue of $27.10 million for the quarter, compared to the consensus estimate of $26.64 million. Analysts expect that Mavenir Systems will post $-0.49 EPS for the current fiscal year.
MVNR has been the subject of a number of other recent research reports. Analysts at Deutsche Bank initiated coverage on shares of Mavenir Systems in a research note on Thursday, December 5th. They set a “buy” rating and a $14.00 price target on the stock. Separately, analysts at Morgan Stanley initiated coverage on shares of Mavenir Systems in a research note on Monday, December 2nd. They set an “overweight” rating and a $13.00 price target on the stock. Finally, analysts at Bank of America initiated coverage on shares of Mavenir Systems in a research note on Monday, December 2nd. They set a “buy” rating and a $13.00 price target on the stock.
Mavenir Systems, Inc, (NASDAQ:MVNR) is a provider of software-based telecommunications networking solutions.
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