Wells Fargo & Company Initiates Coverage on Juniper Networks, Inc. (JNPR)
Wells Fargo & Company assumed coverage on shares of Juniper Networks, Inc. (NYSE:JNPR) in a research report issued to clients and investors on Tuesday. The firm set a “market perform” rating and a $25.00 price target on the network equipment provider’s stock. Wells Fargo & Company’s price target would suggest a potential downside of 3.66% from the stock’s current price.
Several other research firms have also weighed in on JNPR. UBS AG restated a “neutral” rating and set a $30.00 target price (up previously from $28.00) on shares of Juniper Networks in a report on Wednesday, July 26th. Robert W. Baird set a $30.00 target price on shares of Juniper Networks and gave the company a “hold” rating in a report on Wednesday, July 26th. Drexel Hamilton restated a “buy” rating and set a $37.00 target price on shares of Juniper Networks in a report on Thursday, July 20th. Raymond James Financial, Inc. upgraded shares of Juniper Networks from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a report on Friday, July 21st. Finally, BidaskClub upgraded shares of Juniper Networks from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $29.42.
Juniper Networks (NYSE JNPR) opened at $25.95 on Tuesday. The firm has a market cap of $9,870.00, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 2.10 and a beta of 1.05. Juniper Networks has a 1-year low of $23.87 and a 1-year high of $30.96. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.41.
Juniper Networks (NYSE:JNPR) last announced its quarterly earnings results on Tuesday, October 24th. The network equipment provider reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.03). The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.26 billion. Juniper Networks had a net margin of 12.77% and a return on equity of 13.81%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.58 EPS. equities research analysts expect that Juniper Networks will post 1.7 earnings per share for the current year.
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In related news, Director Rahul N. Merchant purchased 2,000 shares of Juniper Networks stock in a transaction dated Wednesday, November 8th. The stock was bought at an average cost of $24.48 per share, with a total value of $48,960.00. Following the purchase, the director now owns 22,543 shares in the company, valued at approximately $551,852.64. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Rami Rahim sold 5,300 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $27.47, for a total transaction of $145,591.00. Following the completion of the sale, the chief executive officer now directly owns 469,607 shares of the company’s stock, valued at $12,900,104.29. The disclosure for this sale can be found here. Insiders have sold a total of 26,700 shares of company stock valued at $732,107 over the last three months. 2.60% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Dana Investment Advisors Inc. raised its holdings in shares of Juniper Networks by 3.3% in the 3rd quarter. Dana Investment Advisors Inc. now owns 1,052,117 shares of the network equipment provider’s stock worth $29,280,000 after purchasing an additional 34,041 shares in the last quarter. Afam Capital Inc. bought a new stake in shares of Juniper Networks in the 3rd quarter worth approximately $434,000. California Public Employees Retirement System raised its holdings in shares of Juniper Networks by 2.2% in the 3rd quarter. California Public Employees Retirement System now owns 1,183,829 shares of the network equipment provider’s stock worth $32,946,000 after purchasing an additional 25,198 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Juniper Networks in the 3rd quarter worth approximately $234,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Juniper Networks by 33.6% in the 3rd quarter. Janus Henderson Group PLC now owns 96,800 shares of the network equipment provider’s stock worth $2,694,000 after purchasing an additional 24,348 shares in the last quarter. 93.32% of the stock is owned by institutional investors.
Juniper Networks Company Profile
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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