Apple Price Target Raised to $100.00 at Pacific Crest (AAPL)
Equities researchers at Pacific Crest boosted their price objective on shares of Apple (NASDAQ:AAPL) from $93.00 to $100.00 in a research report issued on Monday. Pacific Crest’s target price points to a potential upside of 6.35% from the stock’s previous close.
In other Apple news, SVP Daniel J. Riccio sold 4,291 shares of the company’s stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $91.26, for a total transaction of $391,596.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
AAPL has been the subject of a number of other recent research reports. Analysts at Evercore Partners raised their price target on shares of Apple from $100.00 to $115.00 in a research note on Wednesday, July 2nd. They now have an “overweight” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Apple from $85.71 to $96.00 in a research note on Wednesday, June 25th. They now have a “neutral” rating on the stock. Finally, analysts at Needham & Company LLC raised their price target on shares of Apple from $86.32 to $97.00 in a research note on Tuesday, June 24th. They now have a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $96.50.
Shares of Apple (NASDAQ:AAPL) opened at 94.03 on Monday. Apple has a 1-year low of $58.6257 and a 1-year high of $95.05. The stock’s 50-day moving average is $90.67 and its 200-day moving average is $80.87. The company has a market cap of $567.0 billion and a P/E ratio of 15.68.
Apple (NASDAQ:AAPL) last released its earnings data on Wednesday, April 23rd. The company reported $11.62 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $10.09 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts predict that Apple will post $6.31 earnings per share for the current fiscal year.
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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