Northland Securities analyst Michael Latimore maintained a Buy rating on Plantronics (PLT) today and set a price target of $85. The company’s shares opened today at $50.60.
According to TipRanks.com, Latimore is a 5-star analyst with an average return of 16.3% and a 58.1% success rate. Latimore covers the Technology sector, focusing on stocks such as Super League Gaming Inc, Everbridge Inc, and Veritone Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Plantronics with a $90 average price target.
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Based on Plantronics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $41.73 million. In comparison, last year the company had a GAAP net loss of $49.5 million.
Based on the recent corporate insider activity of 60 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 PLT in relation to earlier this year. Last month, Marvin Tseu, a Director at PLT sold 4,238 shares for a total of $207,153.
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Plantronics, Inc. engages in the design and manufacture of lightweight communications headsets audio solutions, telephone headset systems, other communication endpoints, and accessories. Its product categories include office and contact center, which includes corded and cordless communication headsets, audio processors, and telephone systems; mobile, which includes Bluetooth and corded products for mobile phone applications; gaming and computer audio, which includes personal computer and gaming headsets; and clarity, which includes specialty products marketed for hearing impaired individuals. The company was founded by Courtney Graham and Keith Larkin in 1961 and is headquartered in Santa Cruz, CA.
