Finisar Given New $20.00 Price Target at Needham & Company (FNSR)
Finisar opened at 15.84 on Friday. Finisar has a 1-year low of $10.95 and a 1-year high of $20.54. The stock’s 50-day moving average is currently $15.24. The company has a market cap of $1.471 billion and a price-to-earnings ratio of 69.17.
Finisar last posted its quarterly earnings results on Thursday, March 7th. The company reported $0.17 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.16 by $0.01. The company had revenue of $238.35 million for the quarter, compared to the consensus estimate of $238.86 million. During the same quarter last year, the company posted $0.23 earnings per share. Finisar’s revenue was down 1.9% compared to the same quarter last year. Finisar has set its Q4 guidance at $0.15-0.19 EPS. Analysts expect that Finisar will post $0.59 EPS for the current fiscal year.
FNSR has been the subject of a number of other recent research reports. Analysts at MKM Partners reiterated a “buy” rating on shares of Finisar in a research note to investors on Monday. They now have a $18.50 price target on the stock. Separately, analysts at Jefferies Group downgraded shares of Finisar from a “hold” rating to an “underperform” rating in a research note to investors on Friday, January 18th. They now have a $7.50 price target on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of Finisar to $20.00 in a research note to investors on Monday, January 7th.
Nine equities research analysts have rated the stock with a buy rating, four have issued a hold rating, and one has issued a sell rating to the company. Finisar has a consensus rating of “overweight” and a consensus target price of $17.22.
Finisar Corporation (Finisar) is a provider of optical subsystems and components that is used in data communication and telecommunication applications.
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