In a report released today, Timothy Horan from Oppenheimer assigned a Buy rating to Verizon (VZ), with a price target of $70.00. The company’s shares closed last Monday at $60.32, close to its 52-week high of $62.22.
According to TipRanks.com, Horan is a top 100 analyst with an average return of 17.4% and a 72.6% success rate. Horan covers the Technology sector, focusing on stocks such as Limelight Networks, GTT Communications, and Boingo Wireless.
Verizon has an analyst consensus of Moderate Buy, with a price target consensus of $62.70, implying a 4.5% upside from current levels. In a report issued on September 8, Argus Research also upgraded the stock to Buy with a $68.00 price target.
See today’s analyst top recommended stocks >>
Based on Verizon’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $30.45 billion and net profit of $4.7 billion. In comparison, last year the company earned revenue of $32.07 billion and had a net profit of $3.94 billion.
Based on the recent corporate insider activity of 108 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 VZ 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.
Verizon Communications, Inc. is a holding company, which engages in the provision of communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. It operates through the Verizon Consumer Group (Consumer) and Verizon Business Group (Business) segments. The Consumer segment provides consumer-focused wireless and wire line communications services and products. The Business segment offers wireless and wire line communications services and products; video and data services; corporate networking solutions; security and managed network services; local and long distance voice services; and network access to deliver various Internet of Things (IoT) services and products. The company was founded in 1983 and is headquartered in New York, NY.
Read More on VZ:
