Rosenblatt Securities analyst Ryan Koontz maintained a Buy rating on Infinera (INFN) yesterday and set a price target of $12.00. The company’s shares closed last Tuesday at $10.02.
According to TipRanks.com, Koontz is a 5-star analyst with an average return of 28.3% and a 70.6% success rate. Koontz covers the Technology sector, focusing on stocks such as Zoom Video Communications, Applied Optoelectronics, and Acacia Communications.
Currently, the analyst consensus on Infinera is a Moderate Buy with an average price target of $11.67.
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Based on Infinera’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $340 million and GAAP net loss of $35.9 million. In comparison, last year the company earned revenue of $325 million and had a GAAP net loss of $84.77 million.
Based on the recent corporate insider activity of 38 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.
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