Finisar Given New $26.00 Price Target at Stifel (FNSR)
Investment analysts at Stifel dropped their price target on shares of Finisar (NASDAQ:FNSR) from $31.00 to $26.00 in a note issued to investors on Friday. The firm currently has a “buy” rating on the stock. Stifel’s price target would indicate a potential upside of 2.97% from the company’s current price.
Finisar (NASDAQ:FNSR) opened at 25.25 on Friday. Finisar has a 52-week low of $13.92 and a 52-week high of $28.85. The stock has a 50-day moving average of $24.42 and a 200-day moving average of $24.02. The company has a market cap of $2.443 billion and a P/E ratio of 28.86.
Finisar (NASDAQ:FNSR) last issued its quarterly earnings data on Thursday, June 12th. The company reported $0.36 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.38 by $0.02. The company had revenue of $306.03 million for the quarter, compared to the consensus estimate of $303.92 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. The company’s quarterly revenue was up 25.7% on a year-over-year basis. Analysts expect that Finisar will post $1.56 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Craig Hallum downgraded shares of Finisar from a “buy” rating to a “hold” rating in a research note on Friday. Separately, analysts at B. Riley cut their price target on shares of Finisar from $35.75 to $30.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at RBC Capital upgraded shares of Finisar from a “sector perform” rating to an “outperform” rating in a research note on Friday, March 28th. They now have a $30.00 price target on the stock, up previously from $26.00. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Finisar presently has an average rating of “Buy” and an average price target of $27.73.
In other Finisar news, VP Mark Colyar sold 8,100 shares of Finisar stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $24.90, for a total transaction of $201,690.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Finisar Corporation (NASDAQ:FNSR) is a provider of optical subsystems and components that are used in data communication and telecommunication applications.
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