In a report released today, Alex Henderson from Needham assigned a Buy rating to Infinera (INFN), with a price target of $15.00. The company’s shares closed last Thursday at $7.15.
According to TipRanks.com, Henderson is a 5-star analyst with an average return of 20.4% and a 56.9% success rate. Henderson covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Applied Optoelectronics, and CrowdStrike Holdings.
Currently, the analyst consensus on Infinera is a Strong Buy with an average price target of $11.63, which is a 73.6% upside from current levels. In a report issued on October 29, Rosenblatt Securities also maintained a Buy rating on the stock with a $9.00 price target.
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The company has a one-year high of $9.25 and a one-year low of $3.68. Currently, Infinera has an average volume of 2.33M.
Based on the recent corporate insider activity of 26 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 INFN in relation to earlier this year.
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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.
