Juniper Networks (JNPR) Receives a Buy from Needham

Needham analyst Alex Henderson maintained a Buy rating on Juniper Networks (JNPR) today and set a price target of $29.00. The company’s shares closed last Monday at $24.47.

According to TipRanks.com, Henderson is a 5-star analyst with an average return of 15.5% and a 56.9% success rate. Henderson covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Lumentum Holdings, and Ceragon Networks.

Currently, the analyst consensus on Juniper Networks is a Moderate Buy with an average price target of $26.50, a 9.5% upside from current levels. In a report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $29.00 price target.

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Based on Juniper Networks’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $168 million. In comparison, last year the company earned revenue of $1.18 billion and had a net profit of $192 million.

Based on the recent corporate insider activity of 49 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 JNPR in relation to earlier this year.

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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.