Accuray Receives “Neutral” Rating from Zacks (ARAY)
Accuray (NASDAQ:ARAY)‘s stock had its “neutral” rating reissued by Zacks in a report issued on Monday. They currently have a $8.75 price objective on the stock. Zacks‘s target price indicates a potential upside of 8.56% from the stock’s previous close.
Zacks’ analyst wrote, “Accuray posted fiscal 2014-fourth quarter loss of $0.13, significantly narrower than the year-ago loss of $0.25 but wider than the Zacks Consensus Estimate of a loss of $0.07. Revenues of $102.0 million rose 20.1% y/y and beat the mark. Product revenues escalated 34.4% while service revenues improved 8.3%. Both gross and net order volumes improved y/y owing to strong new orders from international regions, particularly in EMEA. Accuray also introduced its financial guidance for fiscal 2015. However, Accuray remains susceptible to weak global markets and reimbursement uncertainties, and faces stiff challenges from competitors’ product offerings. As a result, we maintain our recommendation on the stock at Neutral and set a target of $8.75.”
Accuray (NASDAQ:ARAY) traded down 2.42% on Monday, hitting $8.06. The stock had a trading volume of 1,709,220 shares. Accuray has a 52 week low of $6.04 and a 52 week high of $10.85. The stock has a 50-day moving average of $8.15 and a 200-day moving average of $8.83. The company’s market cap is $618.7 million.
Accuray (NASDAQ:ARAY) last released its earnings data on Thursday, August 21st. The company reported ($0.13) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.07) by $0.06. The company had revenue of $102.00 million for the quarter, compared to the consensus estimate of $92.23 million. During the same quarter last year, the company posted ($0.20) earnings per share. Accuray’s revenue was up 20.1% compared to the same quarter last year. Analysts expect that Accuray will post $-0.24 EPS for the current fiscal year.
Separately, analysts at JPMorgan Chase & Co. upgraded shares of Accuray from a “neutral” rating to an “overweight” rating in a research note on Friday, June 13th. They now have a $12.00 price target on the stock, up previously from $9.00. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Accuray has a consensus rating of “Buy” and a consensus price target of $11.35.
Accuray, Inc manufactures image-guided radiosurgery devices. The Company is based in the United States and its core product, the CyberKnife Stereotactic Radiosurgery System, combines image-guidance with robotics to offer unparalleled flexibility and accuracy.
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