Citigroup analyst Jim Suva maintained a Sell rating on Infinera (INFN) today and set a price target of $7.00. The company’s shares closed last Thursday at $8.91.
According to TipRanks.com, Suva is a 5-star analyst with an average return of 8.0% and a 61.3% success rate. Suva covers the Technology sector, focusing on stocks such as International Business Machines, Hewlett Packard Enterprise, and Keysight Technologies.
Currently, the analyst consensus on Infinera is a Hold with an average price target of $8.30, implying a -1.2% downside from current levels. In a report issued on July 24, Wolfe Research also initiated coverage with a Sell rating on the stock with a $6.00 price target.
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Based on Infinera’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $330 million and GAAP net loss of $99.27 million. In comparison, last year the company earned revenue of $293 million and had a GAAP net loss of $122 million.
Based on the recent corporate insider activity of 19 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 INFN 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.
Infinera Corp. engages in the provision of optical transport networking equipment, software, and services to telecommunications carriers. Its products include long-haul and subsea, metro networks, data center interconnect, and software. The company was founded by David F. Welch, Drew Daniel Perkins, and Jagdeep Singh in December 2000, and is headquartered in Sunnyvale, CA.
