Tech Data Corp Price Target Cut to $70.00 by Analysts at Brean Capital (TECD)
Brean Capital dropped their price target on shares of Tech Data Corp (NASDAQ:TECD) from $75.00 to $70.00 in a research note issued on Friday. The firm currently has a “buy” rating on the stock. Brean Capital’s price target would indicate a potential upside of 16.16% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Tech Data Corp in a research note on Tuesday. They now have a $66.00 price target on the stock. Separately, 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. Finally, 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. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $64.71.
Tech Data Corp (NASDAQ:TECD) opened at 60.26 on Friday. Tech Data Corp has a 1-year low of $46.04 and a 1-year high of $65.98. The stock’s 50-day moving average is $62.69 and its 200-day moving average is $56.57. The company has a market cap of $2.300 billion and a P/E ratio of 13.36.
Tech Data Corp (NASDAQ:TECD) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.72 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.92 by $0.20. The company had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.48 billion. During the same quarter last year, the company posted $0.66 earnings per share. Tech Data Corp’s revenue was up 9.4% compared to the same quarter last year. Analysts expect that Tech Data Corp will post $5.52 EPS for the current fiscal year.
Tech Data Corporation (NASDAQ:TECD) is a wholesale distributor of technology products.
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