After MKM Partners and B.Riley FBR gave Viavi Solutions (NASDAQ: VIAV) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Alex Henderson assigned a Buy rating to Viavi Solutions today and set a price target of $16.00. The company’s shares closed last Monday at $11.81.
According to TipRanks.com, Henderson is a 5-star analyst with an average return of 18.0% and a 53.4% 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 Viavi Solutions is a Strong Buy with an average price target of $16.56, implying a 41.5% upside from current levels. In a report issued on September 11, B.Riley FBR also reiterated a Buy rating on the stock with a $17.50 price target.
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Based on Viavi Solutions’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $267 million and net profit of $26.7 million. In comparison, last year the company earned revenue of $290 million and had a net profit of $12.5 million.
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Viavi Solutions, Inc. engages in the provision of network test, monitoring, and assurance solutions. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance. The Network Enablement segment offers integrated portfolio of testing solutions that access the network to perform build-out and maintenance tasks. The Service Enablement segment covers solutions and services primarily for communication service providers, and enterprises that deliver and/or operate broadband and IP networks (fixed and mobile) supporting voice, video, and data services as well as a wide range of applications. The Optical Security and Performance segment leverages its core optical coating technologies and volume manufacturing capability to design, manufacture, and sell products targeting anti-counterfeiting, consumer and industrial, government, healthcare, and other markets. The company was founded in 1979 and is headquartered in San Jose, CA.