Rambus Coverage Initiated at Benchmark Co. (RMBS)
Benchmark Co. assumed coverage on shares of Rambus (NASDAQ:RMBS) in a research note issued on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $16.00 price target on the stock. Benchmark Co.’s price objective would suggest a potential upside of 43.11% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Sidoti downgraded shares of Rambus from a “buy” rating to a “neutral” rating in a research note on Friday, April 4th. Separately, analysts at Jefferies Group raised their price target on shares of Rambus from $11.00 to $12.00 in a research note on Wednesday, March 26th. Finally, analysts at Citigroup Inc. upgraded shares of Rambus to a “focus list” rating in a research note on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Rambus has a consensus rating of “Buy” and an average target price of $12.68.
Shares of Rambus (NASDAQ:RMBS) opened at 11.18 on Friday. Rambus has a 52-week low of $5.69 and a 52-week high of $11.82. The stock’s 50-day moving average is $10.23 and its 200-day moving average is $9.31. The company’s market cap is $1.269 billion.
Rambus (NASDAQ:RMBS) last released its earnings data on Monday, January 27th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.12. The company had revenue of $73.40 million for the quarter, compared to the consensus estimate of $73.33 million. During the same quarter in the previous year, the company posted ($0.14) earnings per share. The company’s revenue for the quarter was up 27.9% on a year-over-year basis. Analysts expect that Rambus will post $0.22 EPS for the current fiscal year.
Rambus Inc (NASDAQ:RMBS) is a technology solutions company.
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