Northland Securities analyst Michael Latimore maintained a Buy rating on Plantronics (PLT) today and set a price target of $30.00. The company’s shares closed last Thursday at $20.29.
According to TipRanks.com, Latimore is a 5-star analyst with an average return of 17.8% and a 56.3% success rate. Latimore covers the Technology sector, focusing on stocks such as Comtech Telecommunications, Synchronoss Technologies, and Ribbon Communications.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Plantronics with a $21.75 average price target, implying an 8.2% upside from current levels. In a report issued on November 2, J.P. Morgan also upgraded the stock to Buy with a $25.00 price target.
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Based on Plantronics’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $411 million and GAAP net loss of $13.41 million. In comparison, last year the company earned revenue of $462 million and had a GAAP net loss of $25.91 million.
Based on the recent corporate insider activity of 41 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 PLT in relation to earlier this year.
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Plantronics, Inc. engages in the design, manufacture, and distribution of headsets, voice, video, and content sharing solutions. Its product include enterprises headsets, consumer headsets, voice video, and content sharing solutions. The company was founded by Courtney Graham and Keith Larkin in 1961 and is headquartered in Santa Cruz, CA.