Juniper Networks’s “Outperform” Rating Reaffirmed at Zacks (JNPR)
Juniper Networks (NYSE:JNPR)‘s stock had its “outperform” rating reaffirmed by Zacks in a research note issued to investors on Friday. They currently have a $30.00 price target on the stock. Zacks‘s target price suggests a potential upside of 21.80% from the stock’s previous close.
Zacks’ analyst wrote, “Juniper delivered mixed first-quarter results wherein the top line exceeded the Zack Consensus Estimate while the bottom line lagged the same. The company provided modest second-quarter guidance. We remain encouraged by Juniper’s product launches, cost reduction initiatives and improving execution. Increased spending by service providers such as AT&T and Verizon should also support the company’s near-term fundamentals. Juniper’s expansion into the software defined networking segment is expected to strengthen its market position. However, increasing competition, uncertain economic conditions and constricted federal spending remain the possible headwinds. Thus, we reiterate our Outperform recommendation on Juniper Networks.”
JNPR has been the subject of a number of other recent research reports. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Juniper Networks in a research note on Wednesday, April 23rd. They now have a $28.00 price target on the stock. Separately, analysts at Cantor Fitzgerald cut their price target on shares of Juniper Networks from $37.00 to $32.00 in a research note on Wednesday, April 23rd. They now have a “buy” rating on the stock. Finally, analysts at SunTrust initiated coverage on shares of Juniper Networks in a research note on Thursday, April 10th. They set a “buy” rating and a $30.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Juniper Networks currently has an average rating of “Buy” and a consensus target price of $27.63.
Juniper Networks (NYSE:JNPR) traded down 0.12% during mid-day trading on Friday, hitting $24.60. The stock had a trading volume of 4,251,570 shares. Juniper Networks has a 1-year low of $18.05 and a 1-year high of $28.75. The stock has a 50-day moving average of $24.69 and a 200-day moving average of $24.77. The company has a market cap of $11.655 billion and a price-to-earnings ratio of 27.37. Juniper Networks also saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 7,570,129 shares, a decline of 48.4% from the April 30th total of 14,658,376 shares. Currently, 1.6% of the company’s shares are sold short. Based on an average daily trading volume, of 5,170,706 shares, the days-to-cover ratio is currently 1.5 days.
Juniper Networks (NYSE:JNPR) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.29 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.29. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts predict that Juniper Networks will post $1.62 earnings per share for the current fiscal year.
Juniper Networks, Inc (NYSE:JNPR) designs, develops, and sells products and services that together provide its customers with network infrastructure.
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