Cbeyond Hits New 1-Year High at $9.99 (CBEY)
Cbeyond (NASDAQ:CBEY)’s share price reached a new 52-week high on Friday , AnalystRatingsNetwork.com reports. The stock traded as high as $9.99 and last traded at $9.96, with a volume of 149,378 shares trading hands. The stock had previously closed at $9.96.
A number of research firms have recently commented on CBEY. Analysts at Drexel Hamilton downgraded shares of Cbeyond from a “buy” rating to a “hold” rating in a research note on Saturday, May 17th. They now have a $10.00 price target on the stock. Separately, analysts at DA Davidson downgraded shares of Cbeyond from a “buy” rating to a “neutral” rating in a research note on Thursday, May 15th. They now have a $10.00 price target on the stock, up previously from $8.00. Finally, analysts at Raymond James downgraded shares of Cbeyond from a “strong-buy” rating to an “underperform” rating in a research note on Monday, May 12th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Cbeyond currently has a consensus rating of “Hold” and a consensus price target of $8.44.
The stock has a 50-day moving average of $9.82 and a 200-day moving average of $7.58. The company’s market cap is $308.5 million.
Cbeyond (NASDAQ:CBEY) last announced its earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.19). The company had revenue of $108.50 million for the quarter, compared to the consensus estimate of $109.20 million. On average, analysts predict that Cbeyond will post $-0.72 earnings per share for the current fiscal year.
Cbeyond, Inc provides integrated communications services. The Company offers an integrated package of local and long distance telephony services, T-1 Internet access and Internet-based applications to small and medium sized businesses.
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