ORBCOMM Upgraded to “Outperform” by Zacks (ORBC)
ORBCOMM (NASDAQ:ORBC) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report issued on Monday. The firm currently has a $5.80 target price on the stock. Zacks‘s price objective indicates a potential downside of 4.61% from the stock’s previous close.
ORBCOMM (NASDAQ:ORBC) traded up 0.16% on Monday, hitting $6.08. 113,546 shares of the company’s stock traded hands. ORBCOMM has a 1-year low of $3.56 and a 1-year high of $8.21. The stock has a 50-day moving average of $6.31 and a 200-day moving average of $6.65. The company has a market cap of $335.5 million and a P/E ratio of 104.66.
ORBCOMM (NASDAQ:ORBC) last announced its earnings results on Thursday, May 8th. The company reported $0.01 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.01. The company had revenue of $19.40 million for the quarter, compared to the consensus estimate of $19.77 million. On average, analysts predict that ORBCOMM will post $0.06 earnings per share for the current fiscal year.
ORBCOMM Inc (NASDAQ:ORBC) operates a global commercial wireless messaging system optimized for narrowband communications.
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