RPX Corp. Downgraded by Zacks to Underperform (RPXC)
RPX Corp. (NASDAQ:RPXC) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a note issued to investors on Tuesday, AR Network reports. They currently have a $15.40 price target on the stock. Zacks‘ target price suggests a potential downside of 5.29% from the stock’s previous close.
In other RPX Corp. news, Director Geoffrey T. Barker unloaded 15,000 shares of the stock on the open market in a transaction dated Friday, February 21st. The shares were sold at an average price of $16.27, for a total transaction of $244,050.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at TheStreet upgraded shares of RPX Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. RPX Corp. has an average rating of “Hold” and a consensus price target of $19.13.
RPX Corp. (NASDAQ:RPXC) traded down 1.05% during mid-day trading on Tuesday, hitting $16.09. 165,033 shares of the company’s stock traded hands. RPX Corp. has a 52-week low of $11.52 and a 52-week high of $19.88. The stock’s 50-day moving average is $16.48 and its 200-day moving average is $16.77. The company has a market cap of $845.7 million and a price-to-earnings ratio of 21.39.
RPX Corp. (NASDAQ:RPXC) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.18 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.13 by $0.05. The company had revenue of $60.30 million for the quarter, compared to the consensus estimate of $60.30 million. During the same quarter last year, the company posted $0.24 earnings per share. RPX Corp.’s revenue was up 16.9% compared to the same quarter last year. Analysts expect that RPX Corp. will post $1.01 EPS for the current fiscal year.
RPX Corporation (NASDAQ:RPXC) provides patent risk management solutions, offering defensive buying, acquisition syndication, patent intelligence and advisory services.
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