How Analysts See Juniper Networks After a Bad Earnings Reaction
Juniper Networks cratered following the release of its fourth-quarter earnings last week. As a result, the company was hit with a barrage of analyst calls, mostly cutting the price target.
Juniper Networks Inc. (NYSE: JNPR) cratered following the release of its fourth-quarter earnings last week. As a result, the company was hit with a barrage of analyst calls, mostly cutting the price target. 24/7 Wall St. highlighted a few points from the earnings report that analysts jumped on and then added a montage of the analyst calls following the report.
The company had $0.63 in earnings per share (EPS) on $1.3 billion in revenue. That compared to consensus estimates that of $0.59 in EPS on revenue of $1.29 billion. At the same time, Juniper also released its guidance for the first quarter, expecting EPS in the range of $0.42 to $0.46, versus the analysts’ consensus estimate of $0.47.
In the same report, Juniper also announced the resignation of its Chief Financial Officer Robyn Denholm. However, Denholm will stick around for the next few months to aid in the transition.
One notable call from analysts came from Bernstein, which raised the stock to an Outperform rating from Market Perform with a $31 price target.
A few other analysts weighed in on Juniper post earnings:
- Barclays has an Equal Weight rating and lowered its price target to $29 from $31.
- BMO Capital Markets has a Market Perform rating and lowered its price target from $30 to $25.
- Credit Suisse lowered its price target to $27 from $30.
- Deutsche Bank has a Buy rating but lowered its price target to $31 from $32.
- Goldman Sachs has a Buy rating and lowered its target price to $33 from $34.
- Jefferies has a Hold rating and lowered its price target to $27.50 from $33.
- JPMorgan lowered its price target to $30.
- MKM has a Neutral rating and lowered its price target from $31 to $27.
- Nomura has a Neutral rating and lowered its price target to $30 from $32.
- Piper Jaffray has a Neutral rating and lowered its price target to $27 from $30.
- SunTrust Robinson has a Neutral rating and lowered its price target to $25 from $32.
Shares of Juniper Networks ended trading at $23.60 on Friday, with a consensus analyst price target of $29.72 (but this may change) and a 52-week trading range of $21.95 to $32.39.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
