Wells Fargo & Company Cuts Lumen Technologies (NYSE:LUMN) Price Target to $7.50

Lumen Technologies (NYSE:LUMN) had its target price cut by Wells Fargo & Company from $9.00 to $7.50 in a research note released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

A number of other equities analysts have also recently issued reports on the company. Wall Street Zen cut Lumen Technologies from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Zacks Research downgraded shares of Lumen Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a report on Friday, July 17th. JPMorgan Chase & Co. boosted their target price on shares of Lumen Technologies from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Finally, UBS Group raised their price target on shares of Lumen Technologies from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Nine equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $8.11.

Lumen Technologies Price Performance

Shares of NYSE:LUMN opened at $6.27 on Wednesday. Lumen Technologies has a 1 year low of $3.69 and a 1 year high of $11.95. The business’s 50-day moving average is $7.41 and its 200-day moving average is $7.83. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of -6.14 and a beta of 1.78.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Tuesday, August 4th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period last year, the company earned ($0.03) EPS. Lumen Technologies’s revenue for the quarter was down 9.3% compared to the same quarter last year. Analysts anticipate that Lumen Technologies will post -0.42 EPS for the current year.

Insider Transactions at Lumen Technologies

In related news, CEO Kathleen E. Johnson acquired 100,000 shares of the stock in a transaction on Thursday, August 6th. The shares were acquired at an average price of $6.13 per share, with a total value of $613,000.00. Following the completion of the transaction, the chief executive officer owned 100,000 shares in the company, valued at approximately $613,000. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Lumen Technologies

A number of hedge funds have recently modified their holdings of LUMN. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Lumen Technologies by 210.6% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 562,520 shares of the technology company’s stock valued at $4,372,000 after buying an additional 381,391 shares during the period. CapWealth Advisors LLC lifted its holdings in Lumen Technologies by 3.2% during the fourth quarter. CapWealth Advisors LLC now owns 6,699,685 shares of the technology company’s stock valued at $52,057,000 after purchasing an additional 204,970 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Lumen Technologies by 8.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 7,954,306 shares of the technology company’s stock worth $55,282,000 after purchasing an additional 610,364 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Lumen Technologies by 3,775.1% in the first quarter. Fifth Third Bancorp now owns 224,216 shares of the technology company’s stock worth $1,558,000 after purchasing an additional 218,430 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of Lumen Technologies in the first quarter valued at approximately $2,632,000. Institutional investors own 66.19% of the company’s stock.

Key Headlines Impacting Lumen Technologies

Here are the key news stories impacting Lumen Technologies this week:

• Positive Sentiment: CEO Kathleen Johnson purchased 100,000 LUMN shares for approximately $613,000 at an average price of $6.13. The sizable open-market purchase signals management confidence in Lumen’s turnaround and better aligns the CEO’s interests with shareholders. Insider Buying: Lumen Technologies CEO Acquires Stock
• Positive Sentiment: Lumen’s second-quarter loss of $0.07 per share was narrower than the $0.13 analyst consensus, while revenue of $2.81 billion exceeded expectations of $2.74 billion. The earnings beat provides evidence that cost controls and the company’s transformation may be progressing. What Changed for Lumen After Earnings Beat
• Positive Sentiment: Lumen is extending its multi-cloud strategy through an Amdocs agreement to modernize enterprise service orchestration and order management on AWS. The initiative could improve service delivery and support growth in cloud- and AI-related offerings. Lumen Extends Multi-Cloud Strategy
• Neutral Sentiment: Analyst opinion remains mixed: several firms maintain Hold or Neutral ratings, while the broader consensus is Reduce. This suggests the earnings beat and insider purchase have not yet resolved uncertainty surrounding Lumen’s long-term turnaround. Analysts Conflicted on Communication Services Names
• Negative Sentiment: Revenue declined 9.3% year over year to $2.81 billion, underscoring continued weakness in Lumen’s legacy businesses. Investors remain concerned that growth in strategic services may not yet be sufficient to offset those declines.
• Negative Sentiment: Goldman Sachs lowered its LUMN price target from $8.50 to $7.25, while Wells Fargo issued a pessimistic forecast and also reduced expectations. The cuts reinforce concerns about limited near-term upside and likely contributed to pressure on the stock. Lumen Shares Down on Analyst Downgrade

Lumen Technologies Company Profile

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.