Needham & Company Cuts Price Target on Echelon (ELON)
Equities research analysts at Needham & Company lowered their price target on shares of Echelon (NASDAQ: ELON) from $9.00 to $7.00 in a research note issued to investors on Thursday. The firm currently has a “buy” rating on the stock.
Separately, analysts at Piper Jaffray (NYSE: PJC) upgraded shares of Echelon from a “neutral” rating to an “overweight” rating in a research note to investors on Friday, March 2nd.
Echelon opened at 3.88 on Thursday. Echelon has a 1-year low of $3.80 and a 1-year high of $10.58. The company’s market cap is $165.0 million.
Echelon last released its earnings data on Wednesday, May 9th. The company reported ($0.06) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.10) by $0.04. Echelon’s revenue was up 41.9% compared to the same quarter last year. Analysts expect that Echelon will post $-0.05 EPS next quarter.
Echelon Corporation is an energy control networking company. Echelon technologies connect more than 35 million homes, 300,000 buildings and 100 million devices to the smart grid.