Rambus Price Target Increased to $14.00 by Analysts at Jefferies Group (RMBS)
Equities research analysts at Jefferies Group raised their price objective on shares of Rambus (NASDAQ:RMBS) from $13.00 to $14.00 in a research note issued to investors on Thursday. Jefferies Group’s price objective would suggest a potential upside of 7.69% from the company’s current price.
A number of other analysts have also recently weighed in on RMBS. Analysts at Zacks downgraded shares of Rambus from an “outperform” rating to a “neutral” rating in a research note on Friday, May 23rd. They now have a $13.40 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Rambus in a research note on Tuesday, April 22nd. They now have a $13.50 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Rambus in a research note on Tuesday, April 22nd. They now have a $16.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $14.98.
Shares of Rambus (NASDAQ:RMBS) traded up 6.00% during mid-day trading on Thursday, hitting $13.78. 1,104,918 shares of the company’s stock traded hands. Rambus has a 52-week low of $7.95 and a 52-week high of $13.35. The stock has a 50-day moving average of $11.95 and a 200-day moving average of $10.24. The company’s market cap is $1.567 billion.
Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, April 21st. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.03 by $0.14. The company had revenue of $78.29 million for the quarter, compared to the consensus estimate of $72.48 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The company’s quarterly revenue was up 17.1% on a year-over-year basis. On average, analysts predict that Rambus will post $0.27 earnings per share for the current fiscal year.
Rambus Inc (NASDAQ:RMBS) is a technology solutions company.
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