Piper Jaffray Cuts Finisar Price Target to $21.00 (FNSR)
Analysts at Piper Jaffray cut their price target on shares of Finisar (NASDAQ:FNSR) from $24.00 to $21.00 in a research report issued to clients and investors on Friday. The firm currently has an “overweight” rating on the stock. Piper Jaffray’s target price indicates a potential upside of 14.32% from the company’s current price.
A number of other analysts have also recently weighed in on FNSR. Analysts at Jefferies Group downgraded shares of Finisar from a “buy” rating to a “hold” rating in a research note on Tuesday. They now have a $19.00 price target on the stock, down previously from $25.00. Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of Finisar in a research note on Tuesday, August 19th. They now have a $21.00 price target on the stock, down previously from $23.00. Finally, analysts at Zacks upgraded shares of Finisar from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. They now have a $20.50 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $24.50.
Shares of Finisar (NASDAQ:FNSR) opened at 18.37 on Friday. Finisar has a 1-year low of $18.35 and a 1-year high of $28.85. The stock has a 50-day moving average of $19.85 and a 200-day moving average of $22.83. The company has a market cap of $1.788 billion and a price-to-earnings ratio of 17.27.
Finisar (NASDAQ:FNSR) last released its earnings data on Thursday, September 4th. The company reported $0.32 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.32. The company had revenue of $327.60 million for the quarter, compared to the consensus estimate of $320.70 million. During the same quarter last year, the company posted $0.31 earnings per share. Finisar’s revenue was up 23.1% compared to the same quarter last year. On average, analysts predict that Finisar will post $1.42 earnings per share for the current fiscal year.
Finisar Corporation (NASDAQ:FNSR) is a provider of optical subsystems and components that are used in data communication and telecommunication applications.
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