After Jefferies and SunTrust Robinson gave GTT Communications (NYSE: GTT) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Timothy Horan maintained a Buy rating on GTT Communications today. The company’s shares opened today at $36.05.
According to TipRanks.com, Horan is a top 25 analyst with an average return of 17.9% and a 78.6% success rate. Horan covers the Technology sector, focusing on stocks such as Interxion Holding NV, Boingo Wireless Inc, and Zayo Group Holdings.
Currently, the analyst consensus on GTT Communications is a Moderate Buy with an average price target of $46.33, implying a 28.5% upside from current levels. In a report issued on August 6, William Blair also maintained a Buy rating on the stock.
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Based on GTT Communications’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $136 million. In comparison, last year the company had a net profit of $649K.
Based on the recent corporate insider activity of 136 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 GTT in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
GTT Communications, Inc. engages in the provision of cloud networking services to multinational clients. It offers broad portfolio of global services including private networking; Internet; optical transport; Software Defined Wide Area Networking; managed services; voice and unified communications; video transport; and access services.
