Oppenheimer Lowers Price Target on QUALCOMM (QCOM)
Oppenheimer (NYSE: OPY) lowered their price target on shares of QUALCOMM (NASDAQ: QCOM) from $75.00 to $70.00 in a research note issued on Wednesday. The firm currently has an “outperform” rating on the stock.
QCOM has been the subject of a number of other recent research reports. Analysts at Credit Suisse (NYSE: CS) cut their EPS estimates on shares of QUALCOMM in a research note on Friday. They now have an “outperform” rating and a $75.00 price target on the stock. Separately, analysts at Zacks downgraded shares of QUALCOMM from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, May 9th. They now have a $66.00 price target on the stock. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of QUALCOMM in a research note to investors on Wednesday, May 2nd.
QUALCOMM opened at 58.14 on Wednesday. QUALCOMM has a 1-year low of $45.98 and a 1-year high of $68.87. The company has a market cap of $99.668 billion and a price-to-earnings ratio of 17.52.
QUALCOMM last released its earnings data on Wednesday, April 18th. The company reported $1.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.96 by $0.05. The company’s quarterly revenue was up 27.7% on a year-over-year basis. Analysts expect that QUALCOMM will post $0.91 EPS next quarter.
QUALCOMM Incorporated (Qualcomm) designs, manufactures and markets digital wireless telecommunications products and services based on its code division multiple access (CDMA) technology and other technologies.