Stifel Nicolaus analyst Ruben Roy maintained a Buy rating on Infinera (INFN – Research Report) today and set a price target of $7.00. The company’s shares closed last Thursday at $6.03.
According to TipRanks, Roy is a 5-star analyst with an average return of 19.2% and a 67.46% success rate. Roy covers the Technology sector, focusing on stocks such as Viavi Solutions, Coherent Corp, and Intel.
Infinera has an analyst consensus of Strong Buy, with a price target consensus of $7.17.
Based on Infinera’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $299.62 million and a GAAP net loss of $20.26 million. In comparison, last year the company earned a revenue of $284.85 million and had a GAAP net loss of $55.72 million
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Infinera (INFN) Company Description:
Infinera Corp. engages in the provision of optical transport networking equipment, software, and services to telecommunications carriers. Its products include long-haul and subsea, metro networks, data center interconnect, and software. The company was founded by David F. Welch, Drew Daniel Perkins, and Jagdeep Singh in December 2000, and is headquartered in Sunnyvale, CA.
Read More on INFN:
- Fabrinet upgraded to Outperform from Market Perform at Northland
- DZS, Infinera to demo ICE-X coherent pluggable solutions
- Infinera to showcase advances in optical networking solutions at OFC 2024
- Infinera, Orange International Network establish long-term partnership
- Infinera Addresses Delay in Annual Report and Nasdaq Compliance
