Apple Given New $97.00 Price Target at Needham & Company LLC (AAPL)
Research analysts at Needham & Company LLC increased their target price on shares of Apple (NASDAQ:AAPL) from $86.32 to $97.00 in a research report issued on Tuesday. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 6.79% from the company’s current price.
Shares of Apple (NASDAQ:AAPL) traded up 0.76% during mid-day trading on Tuesday, hitting $91.52. The stock had a trading volume of 16,258,477 shares. Apple has a 1-year low of $55.5529 and a 1-year high of $95.05. The stock has a 50-day moving average of $88.95 and a 200-day moving average of $80.18. The company has a market cap of $551.8 billion and a P/E ratio of 15.24.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $11.62 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $10.09 earnings per share. Apple’s revenue was up 4.7% compared to the same quarter last year. Analysts expect that Apple will post $6.31 EPS for the current fiscal year.
AAPL has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. raised their price target on shares of Apple from $89.00 to $108.00 in a research note on Tuesday. Separately, analysts at Societe Generale upgraded shares of Apple from a “hold” rating to a “buy” rating in a research note on Tuesday, June 17th. They now have a $105.00 price target on the stock. Finally, analysts at Cowen and Company raised their price target on shares of Apple from $90.00 to $102.00 in a research note on Tuesday, June 17th. They now have an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirty have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $109.38.
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.
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