Juniper Networks (JNPR) Receives a Buy from Oppenheimer

Oppenheimer analyst George Iwanyc maintained a Buy rating on Juniper Networks (JNPR) today and set a price target of $33. The company’s shares closed on Friday at $29.12.

Iwanyc said:

“Juniper held an Analyst Day in NYC last Friday. We came away with more confidence in our view that underlying business fundamentals (enterprise/security momentum and a growing product pipeline) are improving. That said, we see progress masked by continued cloud deployment delays, which management has little visibility into. Nonetheless, we expect the stock to gradually trade higher as management demonstrates progress on: (1) resolving cloud delays; (2) penetrating into other hyperscale cloud DCs; and (3) improving SP. Considering improving business fundamentals, the bearish sentiment seems overdone, and the risk/reward scenario remains favorable. No changes to estimates. Maintain Outperform.”

According to TipRanks.com, Iwanyc is a 3-star analyst with an average return of 10.6% and a 76.9% success rate. Iwanyc covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Ceragon Networks, and Pure Storage Inc.

Currently, the analyst consensus on Juniper Networks is a Hold with an average price target of $27.50.

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Juniper Networks’ market cap is currently $10.05B and has a P/E ratio of 43.56. The company has a Price to Book ratio of 2.16.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock.

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Juniper Networks, Inc. engages in the design, development, and sale of products and services for high-performance networks. Its products address network requirements for global service provides, cloud providers, national governments, research and public sector organizations, and other enterprises.