In a report released today, Timothy Horan from Oppenheimer assigned a Hold rating to Verizon (VZ). The company’s shares closed last Tuesday at $58.34.
According to TipRanks.com, Horan is a 5-star analyst with an average return of 18.0% and a 68.7% success rate. Horan covers the Technology sector, focusing on stocks such as Rackspace Technology, Lumen Technologies, and Vonage Holdings.
Verizon has an analyst consensus of Moderate Buy, with a price target consensus of $61.30, which is a 5.7% upside from current levels. In a report issued on April 27, MoffettNathanson also downgraded the stock to Hold with a $57.00 price target.
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Based on Verizon’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $32.87 billion and net profit of $5.25 billion. In comparison, last year the company earned revenue of $31.61 billion and had a net profit of $4.16 billion.
Based on the recent corporate insider activity of 93 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. provides wireless and wireline communications services and products through its two segments: Verizon Consumer Group and Verizon Business Group. The Verizon Business segment also offers 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.
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