Needham & Company Reiterates Hold on Acme Packet (APKT)

By admin | 7 years ago

Acme Packet (NASDAQ: APKT)‘s stock had its “hold” rating restated by equities researchers at Needham & Company in a report issued on Thursday.

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.

About the author