Needham & Company Cuts Price Target on Globecomm Systems (GCOM)
Equities researchers at Needham & Company cut their target price on shares of Globecomm Systems (NASDAQ: GCOM) from $17.00 to $15.00 in a report issued on Friday. The firm currently has a “buy” rating on the stock.
Shares of Globecomm Systems opened at 11.61 on Friday. Globecomm Systems has a one year low of $10.63 and a one year high of $16.43. The company has a market cap of $257.9 million and a P/E ratio of 11.05.
Globecomm Systems last issued its quarterly earnings data on Wednesday, May 9th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.05. The company’s revenue for the quarter was up 77.5% on a year-over-year basis. On average, analysts predict that Globecomm Systems will post $0.12 earnings per share next quarter.
Separately, analysts at Zacks upgraded shares of Globecomm Systems from a “neutral” rating to an “outperform” rating in a research note to investors on Saturday, February 18th.
Globecomm Systems Inc. (Globecomm) provides satellite-based managed network solutions. The Company offers a range of system integration, system products and network services for its customers.