Apple Given New $106.00 Price Target at Cowen and Company (AAPL)
Cowen and Company raised their price objective on shares of Apple (NASDAQ:AAPL) from $102.00 to $106.00 in a research note issued on Wednesday. The firm currently has an “outperform” rating on the stock. Cowen and Company’s target price suggests a potential upside of 11.91% from the company’s current price.
Apple (NASDAQ:AAPL) opened at 94.72 on Wednesday. Apple has a 52-week low of $59.8157 and a 52-week high of $97.10. The stock has a 50-day moving average of $93.06 and a 200-day moving average of $82.21. The company has a market cap of $571.1 billion and a P/E ratio of 15.76.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 22nd. The company reported $1.28 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.22 by $0.06. The company had revenue of $37.43 billion for the quarter, compared to the consensus estimate of $37.80 billion. During the same quarter last year, the company posted $7.47 earnings per share. Apple’s revenue was up 6.0% compared to the same quarter last year. On average, analysts predict that Apple will post $6.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Shareholders of record on Monday, August 11th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.98%.
Other equities research analysts have also recently issued reports about the stock. Analysts at ISI Group raised their price target on shares of Apple from $96.00 to $105.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Scotiabank reiterated a “sector perform” rating on shares of Apple in a research note on Monday. Finally, analysts at JMP Securities upgraded shares of Apple from a “market perform” rating to an “outperform” rating in a research note on Monday. They now have a $135.00 price target on the stock. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirty-three have assigned a buy rating to the company’s stock. Apple currently has a consensus rating of “Buy” and an average price target of $100.24.
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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