Tech Data Corp’s “Neutral” Rating Reaffirmed at Zacks (TECD)
Tech Data Corp (NASDAQ:TECD)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued on Tuesday. They currently have a $66.00 price target on the stock. Zacks‘s price target suggests a potential upside of 5.06% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs initiated coverage on shares of Tech Data Corp in a research note on Thursday, May 22nd. They set a “neutral” rating and a $54.00 price target on the stock. Separately, analysts at Raymond James upgraded shares of Tech Data Corp from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 29th. They now have a $68.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Tech Data Corp in a research note on Friday, April 11th. They now have a $66.00 price target on the stock, up previously from $60.00. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $65.43.
Tech Data Corp (NASDAQ:TECD) traded up 1.51% on Tuesday, hitting $63.77. 110,368 shares of the company’s stock traded hands. Tech Data Corp has a 52 week low of $46.04 and a 52 week high of $65.98. The stock’s 50-day moving average is $62.67 and its 200-day moving average is $56.27. The company has a market cap of $2.434 billion and a P/E ratio of 13.34.
Tech Data Corp (NASDAQ:TECD) last issued its quarterly earnings data on Wednesday, April 9th. The company reported $2.10 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.93 by $0.17. The company had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.98 billion. During the same quarter in the prior year, the company posted $1.48 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts predict that Tech Data Corp will post $5.52 earnings per share for the current fiscal year.
Tech Data Corporation (NASDAQ:TECD) is a wholesale distributor of technology products.
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