ARM Holdings plc Rating Increased to Market Perform at Sanford C. Bernstein (ARMH)
ARM Holdings plc (NASDAQ:ARMH) was upgraded by equities researchers at Sanford C. Bernstein from an “underperform” rating to a “market perform” rating in a research report issued on Tuesday, TheFlyOnTheWall.com reports.
ARM Holdings plc (NASDAQ:ARMH) opened at 48.30 on Tuesday. ARM Holdings plc has a one year low of $34.75 and a one year high of $55.26. The stock’s 50-day moving average is $49.27 and its 200-day moving average is $48.69. The company has a market cap of $22.683 billion and a P/E ratio of 137.20.
ARM Holdings plc (NASDAQ:ARMH) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by $0.21. The company had revenue of $189.10 million for the quarter. During the same quarter in the previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, analysts predict that ARM Holdings plc will post $1.20 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity raised their price target on shares of ARM Holdings plc from $55.00 to $60.00 in a research note on Tuesday, March 25th. They now have a “buy” rating on the stock. Separately, analysts at William Blair upgraded shares of ARM Holdings plc from a “market perform” rating to an “outperform” rating in a research note on Monday, March 10th. Finally, analysts at FBR Capital Markets cut their price target on shares of ARM Holdings plc from $62.00 to $59.00 in a research note on Wednesday, February 5th. They now have an “outperform” rating on the stock. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $49.36.
ARM Holdings plc (NASDAQ:ARMH) designs microprocessors, physical Internet protocol (IP) and related technology and software, and sells development tools.
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