.png "Netgear (NASDAQ: NTGR)")
In a report released today, Rob Cihra from Guggenheim maintained a Buy rating on Netgear (NASDAQ: NTGR). The company’s shares opened today at $74.20, close to its 52-week high of $78.30.
Cihra noted:
“We estimate 2018 revenues +8%Y/ Y to $1.53B and +4%Y/Y to $1.07B ex-ARLO, driven by Orbi mesh and WiFi routers, a return to growth in SMB switching and stabilization in Service Provider; with profits rebounding after ARLO and its separate costs fully spin out. ARLO spin-out enables return to profit focus – On Aug 3, NTGR began to spin out ARLO through an IPO of 11.7mil shares at $16 per share, and continues to own 84.2% but with its stated intention being to distribute the remaining ARLO ownership interest to its stockholders sometime after a 145-day lock-up period, as soon as the transaction can be tax-free for US federal income tax purposes.”
According to TipRanks.com, Cihra is a 4-star analyst with an average return of 9.1% and a 58.4% success rate. Cihra covers the Consumer Goods sector, focusing on stocks such as Western Digital, Corning Inc, and HP Inc.
Netgear has an analyst consensus of Moderate Buy, with a price target consensus of $64.50.
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The company has a one-year high of $78.30 and a one-year low of $44.20. Currently, Netgear has an average volume of 365.5K.
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NETGEAR, Inc. engages in the provision of Internet connected products to consumers, businesses, and service providers. It operates through the following business segments: Arlo, Connected Home, and SMB. The Arlo segment offers internet-connected products for consumers and businesses that provide security and safety.
