Tech Data Corp Price Target Raised to $59.00 at Goldman Sachs (TECD)
Goldman Sachs boosted their target price on shares of Tech Data Corp (NASDAQ:TECD) to $59.00 in a research note issued on Tuesday. Goldman Sachs’ price objective would indicate a potential downside of 11.10% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Tech Data Corp in a research note on Friday. They now have a $70.00 price target on the stock. Separately, analysts at Bank of America upgraded shares of Tech Data Corp from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 16th. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Tech Data Corp in a research note on Friday, May 30th. They now have a $62.00 price target on the stock, down previously from $66.00. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $66.83.
Shares of Tech Data Corp (NASDAQ:TECD) traded up 0.12% during mid-day trading on Tuesday, hitting $66.37. 432,667 shares of the company’s stock traded hands. Tech Data Corp has a 52 week low of $48.35 and a 52 week high of $66.62. The stock has a 50-day moving average of $63.73 and a 200-day moving average of $61.26. The company has a market cap of $2.538 billion and a P/E ratio of 14.45.
Tech Data Corp (NASDAQ:TECD) last announced its earnings results on Tuesday, August 26th. The company reported $1.12 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.77 by $0.35. The company had revenue of $6.84 billion for the quarter. During the same quarter last year, the company posted $0.73 earnings per share. Tech Data Corp’s revenue was up 8.1% compared to the same quarter last year. Analysts expect that Tech Data Corp will post $4.82 EPS for the current fiscal year.
Tech Data Corporation (NASDAQ:TECD) is a wholesale distributor of technology products.
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