Juniper Networks, Inc. (NYSE:JNPR)‘s stock had its “buy” rating reiterated by equities researchers at Drexel Hamilton in a note issued to investors on Thursday, July 20th. They presently have a $37.00 target price on the network equipment provider’s stock. Drexel Hamilton’s price objective suggests a potential upside of 32.38% from the company’s previous close.
The analysts wrote, “We believe Juniper will meet our 2Q:2017 revenue estimate of $1.294 billion (Street is at $1.284 billion) and slightly beat our EPS projection of $0.55 (Street is at $0.54). Our 2Q:2017 sales forecast represents a 6% QoQ increase and weaker than the five-year average rise of 9%.””
A number of other equities analysts also recently issued reports on JNPR. Goldman Sachs Group, Inc. (The) raised their price objective on shares of Juniper Networks from $31.00 to $36.00 and gave the stock a “conviction-buy” rating in a report on Monday, March 27th. Berenberg Bank initiated coverage on shares of Juniper Networks in a report on Tuesday, April 4th. They issued a “buy” rating and a $35.00 price objective on the stock. Instinet reissued a “buy” rating and issued a $33.00 price objective on shares of Juniper Networks in a report on Thursday, April 6th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $27.00 price target on shares of Juniper Networks in a report on Tuesday, April 18th. Finally, Barclays PLC reaffirmed an “equal weight” rating on shares of Juniper Networks in a report on Saturday, April 22nd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Juniper Networks currently has a consensus rating of “Hold” and an average price target of $30.89.
Shares of Juniper Networks (NYSE JNPR) traded up 0.65% during mid-day trading on Thursday, hitting $27.95. 5,392,864 shares of the company were exchanged. Juniper Networks has a 52 week low of $22.12 and a 52 week high of $30.96. The company has a 50 day moving average of $28.66 and a 200 day moving average of $28.52. The company has a market capitalization of $10.63 billion, a P/E ratio of 16.73 and a beta of 1.08.
Juniper Networks (NYSE:JNPR) last announced its quarterly earnings results on Tuesday, July 25th. The network equipment provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. Juniper Networks had a net margin of 12.66% and a return on equity of 14.13%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the business posted $0.50 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities analysts anticipate that Juniper Networks will post $2.24 earnings per share for the current year.
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In other news, VP Terrance F. Spidell sold 10,600 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $29.47, for a total transaction of $312,382.00. Following the completion of the sale, the vice president now directly owns 10,600 shares of the company’s stock, valued at $312,382. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vincent Molinaro sold 5,031 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $30.00, for a total transaction of $150,930.00. The disclosure for this sale can be found here. Insiders have sold 180,131 shares of company stock worth $5,488,212 in the last quarter. Company insiders own 3.40% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Juniper Networks by 2,310.0% in the first quarter. BlackRock Inc. now owns 25,175,402 shares of the network equipment provider’s stock worth $700,629,000 after buying an additional 24,130,800 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of Juniper Networks by 40.0% in the second quarter. Diamond Hill Capital Management Inc. now owns 11,378,124 shares of the network equipment provider’s stock worth $317,222,000 after buying an additional 3,248,819 shares in the last quarter. Morgan Stanley raised its stake in shares of Juniper Networks by 119.2% in the first quarter. Morgan Stanley now owns 2,550,103 shares of the network equipment provider’s stock worth $70,970,000 after buying an additional 1,386,626 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Juniper Networks by 3.6% in the first quarter. Vanguard Group Inc. now owns 36,120,137 shares of the network equipment provider’s stock worth $1,005,224,000 after buying an additional 1,246,424 shares in the last quarter. Finally, LSV Asset Management raised its stake in shares of Juniper Networks by 42.4% in the first quarter. LSV Asset Management now owns 4,118,318 shares of the network equipment provider’s stock worth $114,612,000 after buying an additional 1,227,063 shares in the last quarter. 90.08% of the stock is owned by hedge funds and other institutional investors.
About Juniper Networks
Juniper Networks, Inc designs, develops and sells products and services for high-performance networks to enable customers to build networks for their businesses. The Company sells its products in over 100 countries in three geographic regions: Americas; Europe, the Middle East and Africa, and Asia Pacific.
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