Zeltiq Aesthetics Shares Up 7.3% Following Strong Earnings (ZLTQ)
Zeltiq Aesthetics (NASDAQ:ZLTQ)’s share price rose 7.3% on Tuesday after the company announced better than expected quarterly earnings, ARN reports. The stock traded as high as $16.45 and last traded at $16.39, with a volume of 283,123 shares traded. The stock had previously closed at $15.27.
The company reported $0.07 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.13) by $0.20. The company had revenue of $47.10 million for the quarter, compared to the consensus estimate of $34.93 million. Zeltiq Aesthetics’s revenue was up 79.1% compared to the same quarter last year.
A number of research firms have recently commented on ZLTQ. Analysts at Cantor Fitzgerald reiterated a “positive” rating on shares of Zeltiq Aesthetics in a research note on Monday, May 5th. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Zeltiq Aesthetics in a research note on Wednesday, April 30th. They now have a $20.00 price target on the stock. Finally, analysts at Canaccord Genuity cut their price target on shares of Zeltiq Aesthetics from $26.00 to $24.00 in a research note on Wednesday, April 30th. They now have a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $23.40.
The stock has a 50-day moving average of $15.67 and a 200-day moving average of $17.80. The company’s market cap is $620.5 million.
Zeltiq Aesthetics, Inc operates as a medical device development company. It engages in the design, development, and commercialization of non-invasive procedures for the reduction of unwanted fat tissue.
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