Apple Stock Price Up 2% Following Analyst Upgrade (AAPL)
Apple (NASDAQ:AAPL) was up 2% during trading on Monday after Pacific Crest raised their price target on the stock from $93.00 to $100.00, Analyst Ratings Network reports. The stock traded as high as $95.96 and last traded at $95.94, with a volume of 50,903,254 shares trading hands. The stock had previously closed at $94.03.
Other equities research analysts have also recently issued reports about the stock. 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 issued a hold rating and twenty-nine have given a buy rating to the company. Apple presently has an average rating of “Buy” and an average price target of $96.50.
In other Apple news, SVP Daniel J. Riccio sold 4,291 shares of Apple stock on the open market in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $91.26, for a total transaction of $391,596.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
The stock has a 50-day moving average of $90.67 and a 200-day moving average of $80.87. The company has a market cap of $578.7 billion and a P/E ratio of 15.77.
Apple (NASDAQ:AAPL) last announced its earnings results on Wednesday, April 23rd. The company reported $11.62 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $10.09 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts expect that Apple will post $6.31 EPS 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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