After Cowen & Co. and J.P. Morgan gave Apple Inc (NASDAQ: AAPL) a Buy rating last month, the company received another Buy, this time from Wedbush. Analyst Daniel Ives maintained a Buy rating on Apple Inc yesterday and set a price target of $245. The company’s shares closed last Monday at $218.75, close to its 52-week high of $233.47.
According to TipRanks.com, Ives is a 4-star analyst with an average return of 2.6% and a 54.2% success rate. Ives covers the Technology sector, focusing on stocks such as Nuance Communications, Tenable Holdings Inc, and Citrix Systems Inc.
Apple Inc has an analyst consensus of Moderate Buy, with a price target consensus of $223.93, representing a 1.8% upside. In a report issued on September 5, Piper Jaffray also reiterated a Buy rating on the stock with a $243 price target.
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Based on Apple Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $53.74 billion and net profit of $10.04 billion. In comparison, last year the company earned revenue of $53.43 billion and had a net profit of $11.52 billion.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AAPL in relation to earlier this year. Last month, Arthur Levinson, a Director at AAPL sold 17,500 shares for a total of $3,529,575.
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.
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