In a report released yesterday, Steven Halper from Cantor Fitzgerald reiterated a Buy rating on Vocera (VCRA), with a price target of $37. The company’s shares closed yesterday at $39.69, close to its 52-week high of $42.60.
Halper commented:
“. We reiterate our Overweight rating on VCRA shares but lower our target price to $37 from $45. After the close on Thursday, February 7, VCRA reported 4Q18 results. Bookings were soft in the quarter, which resulted in slightly lower revenue. The disappointing bookings will also impact 2019 results. Management attributed the weakness due to the Smartbadge introduction and other issues. We had anticipated some transition issues, but not at this level. While the lower guidance is disappointing, it does not reduce our enthusiasm toward the shares (which traded down 22% to $31.20 in after hours trading). Our revised target price suggests 19% upside from current levels.”
According to TipRanks.com, Halper is a top 100 analyst with an average return of 19.7% and a 65.7% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Evolent Health.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Vocera with a $43.67 average price target.
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Based on Vocera’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $249K. In comparison, last year the company had a net profit of $2.66 million.
Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VCRA in relation to earlier this year. Last month, Sharon O’keefe, a Director at VCRA bought 4,000 shares for a total of $64,000.
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Vocera Communications, Inc. engages in the provision of secure, integrated, intelligent communication and workflow solutions. The firm is focused on empowering mobile workers in healthcare, hospitality, energy, and other mission critical mobile work environments in the United States and internationally. It operates through Product, and Service segments.
