Apple’s “Outperform” Rating Reaffirmed at Raymond James (AAPL)
Apple (NASDAQ:AAPL)‘s stock had its “outperform” rating reiterated by equities research analysts at Raymond James in a research note issued to investors on Friday. They currently have a $102.00 target price on the stock, up from their previous target price of $86.00. Raymond James’ target price indicates a potential upside of 10.52% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets cut their price target on shares of Apple from $685.00 to $98.00 in a research note on Friday. Separately, analysts at RBC Capital raised their price target on shares of Apple from $96.00 to $100.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Apple in a research note on Wednesday. They now have a $105.00 price target on the stock, up previously from $92.86. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $108.44.
Apple (NASDAQ:AAPL) traded down 0.75% on Friday, hitting $91.60. The stock had a trading volume of 26,310,340 shares. Apple has a one year low of $55.5529 and a one year high of $95.05. The stock has a 50-day moving average of $87.37 and a 200-day moving average of $79.51. The company has a market cap of $552.3 billion and a price-to-earnings ratio of 15.48. Apple also was the target of unusually large options trading activity on Thursday. Stock investors bought 604,654 call options on the stock. This represents an increase of 104% compared to the typical volume of 296,070 call options.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $11.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.13 by $1.49. The company had revenue of $45.65 billion for the quarter, compared to the consensus estimate of $43.55 billion. During the same quarter in the previous year, the company posted $10.09 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts predict that Apple will post $6.31 earnings per share for the current fiscal year.
Apple Inc (NASDAQ:AAPL) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.