Topeka Capital Markets Increases Cerner Price Target to $62.00 (CERN)
Equities research analysts at Topeka Capital Markets boosted their target price on shares of Cerner (NASDAQ:CERN) from $58.00 to $62.00 in a research note issued to investors on Friday. The firm currently has a “buy” rating on the stock. Topeka Capital Markets’ price target indicates a potential upside of 9.06% from the stock’s previous close.
Shares of Cerner (NASDAQ:CERN) opened at 56.85 on Friday. Cerner has a 52 week low of $45.81 and a 52 week high of $63.07. The stock has a 50-day moving average of $52.77 and a 200-day moving average of $54.83. The company has a market cap of $19.521 billion and a price-to-earnings ratio of 47.97.
Cerner (NASDAQ:CERN) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.40 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.40. The company had revenue of $851.80 million for the quarter, compared to the consensus estimate of $813.77 million. During the same quarter last year, the company posted $0.34 earnings per share. Cerner’s revenue was up 20.4% compared to the same quarter last year. Analysts expect that Cerner will post $1.66 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Cerner in a research note on Monday, July 21st. They now have a $56.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $62.16.
Cerner Corporation is a supplier of healthcare information technology solutions, services, devices and hardware.
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