In a report released yesterday, Robert Burleson from Canaccord Genuity reiterated a Buy rating on Faro Technologies (NASDAQ: FARO), with a price target of $74. The company’s shares opened today at $66.75, close to its 52-week high of $70.20.
According to TipRanks.com, Burleson is a 5-star analyst with an average return of 13.3% and a 59.9% success rate. Burleson covers the Consumer Goods sector, focusing on stocks such as IPG Photonics Corporation, Nano Dimension, and Cognex Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Faro Technologies with a $73 average price target, which is a 9.4% upside from current levels. In a report issued on July 26, Noble Financial also maintained a Buy rating on the stock with a $75 price target.
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Based on Faro Technologies’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $1.21 million. In comparison, last year the company had a GAAP net loss of $3.63 million.
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock.
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FARO Technologies, Inc. engages in the design, development, manufacture, marketing, and support of three-dimensional (3D) measurement, imaging, and realization systems. It operates through the following segments: Factory Metrology, Construction BIM-CIM, and Other.
