Needham & Company Reiterates Hold on Acme Packet (APKT)
Shares of Acme Packet traded down 0.85% during mid-day trading on Thursday, hitting $26.78. Acme Packet has a one year low of $24.88 and a one year high of $81.20. The company has a market cap of $1.820 billion and a P/E 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. On average, analysts predict that Acme Packet will post $0.27 earnings per share next quarter.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, analysts at Cowen initiated coverage on shares of Acme Packet in a research note to investors on Tuesday, April 24th. They set an “outperform” rating on the stock. Finally, analysts at Barclays Capital (NYSE: BCS) upgraded shares of Acme Packet from an “equal weight” rating to an “overweight” rating in a research note to investors on Wednesday, April 11st. They now have a $33.00 price target on the stock, up previously from $24.00.
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.