Casa Systems (NASDAQ:CASA) Upgraded to Overweight by Barclays


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Casa Systems (NASDAQ:CASA) was upgraded by equities research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Thursday, The Fly reports.

Several other brokerages have also issued reports on CASA. Morgan Stanley increased their target price on Casa Systems from $5.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 15th. BidaskClub raised Casa Systems from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 10th. TheStreet upgraded Casa Systems from a “d” rating to a “c-” rating in a research note on Monday, December 14th. Northland Securities restated a “buy” rating and issued a $9.00 price target on shares of Casa Systems in a research note on Tuesday, December 15th. Finally, Zacks Investment Research downgraded Casa Systems from a “buy” rating to a “hold” rating in a research note on Friday, November 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Casa Systems presently has a consensus rating of “Hold” and a consensus price target of $6.44.

CASA opened at $7.07 on Thursday. The business has a 50 day simple moving average of $6.44 and a two-hundred day simple moving average of $5.07. The firm has a market capitalization of $590.51 million, a price-to-earnings ratio of -23.57 and a beta of 1.20. The company has a debt-to-equity ratio of 6.05, a current ratio of 3.28 and a quick ratio of 2.32. Casa Systems has a one year low of $1.85 and a one year high of $7.97.

Casa Systems (NASDAQ:CASA) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. Casa Systems had a positive return on equity of 11.73% and a negative net margin of 6.24%. The business had revenue of $105.75 million during the quarter, compared to analyst estimates of $92.30 million. As a group, sell-side analysts expect that Casa Systems will post -0.03 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC bought a new position in Casa Systems in the 3rd quarter worth $82,000. Paloma Partners Management Co bought a new position in Casa Systems in the 3rd quarter worth $106,000. Cubist Systematic Strategies LLC bought a new position in Casa Systems in the 3rd quarter worth $120,000. Squarepoint Ops LLC bought a new position in Casa Systems in the 3rd quarter worth $206,000. Finally, Boothbay Fund Management LLC raised its holdings in Casa Systems by 83.3% in the 3rd quarter. Boothbay Fund Management LLC now owns 73,526 shares of the company’s stock worth $296,000 after purchasing an additional 33,409 shares during the period. 68.29% of the stock is currently owned by institutional investors.

Casa Systems Company Profile

Casa Systems, Inc, a communications technology company, provides solutions for next-generation centralized, distributed, and virtualized architectures for cable broadband, fixed-line broadband, and wireless networks in North America, Latin America, the Asia-Pacific, Europe, the Middle East, and Africa.

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