Tech Data Corp Price Target Raised to $72.00 at Needham & Company LLC (TECD)
Equities research analysts at Needham & Company LLC boosted their price objective on shares of Tech Data Corp (NASDAQ:TECD) from $70.00 to $72.00 in a research note issued to investors on Wednesday. Needham & Company LLC’s price objective indicates a potential upside of 7.29% from the stock’s previous close.
Shares of Tech Data Corp (NASDAQ:TECD) traded up 1.11% on Wednesday, hitting $67.11. 368,158 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 $71.31. The stock has a 50-day moving average of $63.80 and a 200-day moving average of $61.30. The company has a market cap of $2.566 billion and a P/E ratio of 14.47.
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 $4.96 EPS for the current fiscal year.
TECD has been the subject of a number of other recent research reports. Analysts at Barclays raised their price target on shares of Tech Data Corp from $65.00 to $69.00 in a research note on Wednesday. Separately, analysts at Brean Capital raised their price target on shares of Tech Data Corp from $70.00 to $73.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Goldman Sachs raised their price target on shares of Tech Data Corp to $59.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $67.86.
Tech Data Corporation (NASDAQ:TECD) is a wholesale distributor of technology products.
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