Barclays Capital Sets Acme Packet Price Target at $35.00 (APKT)
Analysts at Barclays Capital (NYSE: BCS) lifted their price target on shares of Acme Packet (NASDAQ: APKT) from $33.00 to $35.00 in a research report issued to clients and investors on Thursday. The firm currently has an “overweight” rating on the stock.
A number of other firms have also recently commented on APKT. Analysts at Jefferies Group (NYSE: JEF) raised their price target on shares of Acme Packet to $40.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Needham & Company reiterated a “hold” rating on shares of Acme Packet in a research note to investors on Thursday. Finally, analysts at Mizuho raised their price target on shares of Acme Packet from $18.00 to $22.00 in a research note to investors on Thursday. They now have an “underperform” rating on the stock.
Acme Packet opened at 27.01 on Thursday. Acme Packet has a 52-week low of $24.88 and a 52-week high of $81.20. The company has a market cap of $1.835 billion and a price-to-earnings ratio of 57.47.
The company last announced its quarterly results on Wednesday, May 2nd. It reported $0.17 earnings per share (EPS) for the previous quarter, meeting the Thomson Reuters consensus estimate of $0.17 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. Analysts expect that Acme Packet will post $0.27 EPS next quarter.
Acme Packet, Inc. is a provider in session border control solutions, which enable the delivery interactive communications, such as voice, video and multimedia sessions, and data services across Internet protocol (IP), network borders.