SYNNEX Given New $78.00 Price Target at Needham & Company LLC (SNX)
Investment analysts at Needham & Company LLC hoisted their price target on shares of SYNNEX (NYSE:SNX) from $74.00 to $78.00 in a note issued to investors on Thursday. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 5.51% from the stock’s previous close.
Shares of SYNNEX (NYSE:SNX) opened at 73.93 on Thursday. SYNNEX has a 1-year low of $43.43 and a 1-year high of $79.44. The stock’s 50-day moving average is $67.11 and its 200-day moving average is $63.7. The company has a market cap of $2.854 billion and a P/E ratio of 23.09.
SYNNEX (NYSE:SNX) last released its earnings data on Wednesday, July 2nd. The company reported $1.52 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.36 by $0.16. The company had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.17 billion. During the same quarter last year, the company posted $0.81 earnings per share. SYNNEX’s revenue was up 33.3% compared to the same quarter last year. On average, analysts predict that SYNNEX will post $5.88 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America reiterated a “buy” rating on shares of SYNNEX in a research note on Thursday. They now have a $85.00 price target on the stock, up previously from $80.00. Separately, analysts at Credit Agricole upgraded shares of SYNNEX from an “outperform” rating to a “buy” rating in a research note on Wednesday, May 21st. Finally, analysts at Cross Research upgraded shares of SYNNEX from a “hold” rating to a “buy” rating in a research note on Monday, May 19th. They now have a $81.00 price target on the stock. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. SYNNEX presently has an average rating of “Buy” and an average target price of $79.84.
Synnex Corporation is a business process services company. The Company provides services to resellers, retailers and original equipment manufacturers (NYSE:SNX), in multiple regions around the world.
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