Equities researchers at Needham & Company raised their target price on shares of Cray (NASDAQ: CRAY) from $9.50 to $12.00 in a report issued on Friday. The firm currently has a “buy” rating on the stock.
Shares of Cray traded down 1.51% during mid-day trading on Friday, hitting $11.09. Cray has a one year low of $4.96 and a one year high of $11.42. The company has a market cap of $395.1 million and a P/E ratio of 20.00.
Cray last announced its earnings results on Thursday, April 26th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.10. The company’s revenue for the quarter was up 181.5% on a year-over-year basis. On average, analysts predict that Cray will post $-0.42 earnings per share next quarter.
Cray Inc., incorporated in December 1987, designs, develops, manufactures, markets and services high-performance computing (HPC) systems, known as supercomputers and provides engineering services related to HPC systems and solutions.