Share on StockTwits

EMC (NYSE:EMC)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued on Friday. They currently have a $28.00 price objective on the stock. Zacks‘s price objective would suggest a potential upside of 4.32% from the stock’s previous close.

A number of other analysts have also recently weighed in on EMC. Analysts at Needham & Company LLC initiated coverage on shares of EMC in a research note on Thursday, April 24th. They set a “buy” rating and a $30.00 price target on the stock. Analysts at Deutsche Bank initiated coverage on shares of EMC in a research note on Thursday, April 10th. They set a “buy” rating and a $32.00 price target on the stock. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $29.83.

EMC (NYSE:EMC) traded down 1.94% during mid-day trading on Friday, hitting $26.32. The stock had a trading volume of 13,516,156 shares. EMC has a 1-year low of $23.08 and a 1-year high of $28.26. The stock has a 50-day moving average of $26.2 and a 200-day moving average of $25.8. The company has a market cap of $53.885 billion and a price-to-earnings ratio of 21.25. EMC also was the recipient of a large drop in short interest in the month of May. As of May 30th, there was short interest totalling 34,011,090 shares, a drop of 10.5% from the May 15th total of 37,999,309 shares. Based on an average trading volume of 11,716,049 shares, the short-interest ratio is currently 2.9 days. Approximately 1.7% of the shares of the stock are short sold.

EMC (NYSE:EMC) last released its earnings data on Wednesday, April 23rd. The company reported $0.35 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.35. The company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the prior year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. On average, analysts predict that EMC will post $1.91 earnings per share for the current fiscal year.

EMC Corporation (NYSE:EMC) and its subsidiaries develop, deliver and support the Information Technology (IT) industry’s range of information infrastructure and virtual infrastructure technologies, solutions and services.

To view Zacks’ full report, visit Zacks’ official website.

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.