Cbeyond Sets New 1-Year High at $10.00 (CBEY)
Shares of Cbeyond (NASDAQ:CBEY) reached a new 52-week high during mid-day trading on Wednesday , Analyst Ratings Net reports. The company traded as high as $10.00 and last traded at $10.00, with a volume of 393,541 shares changing hands. The stock had previously closed at $9.95.
A number of analysts have recently weighed in on CBEY shares. Analysts at Drexel Hamilton downgraded shares of Cbeyond from a “buy” rating to a “hold” rating in a research note on Saturday, May 17th. They now have a $10.00 price target on the stock. Separately, analysts at DA Davidson downgraded shares of Cbeyond from a “buy” rating to a “neutral” rating in a research note on Thursday, May 15th. They now have a $10.00 price target on the stock, up previously from $8.00. Finally, analysts at Raymond James downgraded shares of Cbeyond from a “strong-buy” rating to an “underperform” rating in a research note on Monday, May 12th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $8.44.
The stock has a 50-day moving average of $9.93 and a 200-day moving average of $8.22. The company’s market cap is $309.8 million.
Cbeyond (NASDAQ:CBEY) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, meeting the Thomson Reuters consensus estimate of ($0.19). The company had revenue of $108.50 million for the quarter, compared to the consensus estimate of $109.20 million. On average, analysts predict that Cbeyond will post $-0.72 earnings per share for the current fiscal year.
Cbeyond, Inc provides integrated communications services. The Company offers an integrated package of local and long distance telephony services, T-1 Internet access and Internet-based applications to small and medium sized businesses.
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