Benchmark began coverage on shares of Velodyne Lidar (NASDAQ:VLDR) in a report released on Thursday, The Fly reports. The firm set a “buy” rating and a $32.00 price target on the stock. Benchmark’s price target indicates a potential upside of 33.84% from the stock’s previous close.
Several other research firms have also recently commented on VLDR. Oppenheimer assumed coverage on shares of Velodyne Lidar in a research note on Wednesday, October 14th. They set an “outperform” rating and a $21.00 target price for the company. ValuEngine downgraded Velodyne Lidar from a “buy” rating to a “hold” rating in a research report on Monday, December 21st. Smith Barney Citigroup assumed coverage on Velodyne Lidar in a report on Wednesday, January 6th. They issued a “buy” rating and a $31.00 price target for the company. Needham & Company LLC reduced their price objective on Velodyne Lidar from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, January 8th. Finally, Berenberg Bank started coverage on Velodyne Lidar in a research report on Thursday, December 10th. They issued a “buy” rating and a $29.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $29.00.
Velodyne Lidar stock opened at $23.91 on Thursday. Velodyne Lidar has a 52 week low of $9.87 and a 52 week high of $32.50. The business has a 50-day simple moving average of $20.57.
A number of institutional investors and hedge funds have recently modified their holdings of VLDR. Polar Asset Management Partners Inc. acquired a new stake in shares of Velodyne Lidar in the third quarter valued at $22,428,000. Summit Partners Public Asset Management LLC acquired a new stake in Velodyne Lidar in the 3rd quarter valued at about $15,978,000. Glazer Capital LLC bought a new position in shares of Velodyne Lidar in the third quarter worth about $1,869,000. Sei Investments Co. acquired a new position in shares of Velodyne Lidar during the third quarter worth approximately $853,000. Finally, Morgan Stanley acquired a new position in shares of Velodyne Lidar during the third quarter worth approximately $510,000. Hedge funds and other institutional investors own 65.69% of the company’s stock.
About Velodyne Lidar
Velodyne Lidar, Inc develops and produces lidar sensors for use in industrial, 3D mapping, drones, and auto applications in North America, the Asia Pacific, Europe, the Middle East, and Africa. The company offers surround-view hybrid solid state, directional solid state, and dome lidars; and Vella, an advanced driver assistance systems (ADAS) software solution built around lidar.
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