Casa Systems Inc (CASA) Expected to Post Quarterly Sales of $101.43 Million

Equities research analysts predict that Casa Systems Inc (NASDAQ:CASA) will announce sales of $101.43 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Casa Systems’ earnings, with estimates ranging from $101.00 million to $101.90 million. The company is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Casa Systems will report full-year sales of $101.43 million for the current fiscal year, with estimates ranging from $332.97 million to $335.50 million. For the next financial year, analysts expect that the company will post sales of $385.88 million per share, with estimates ranging from $377.50 million to $391.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Casa Systems.

CASA has been the subject of several recent analyst reports. Barclays initiated coverage on Casa Systems in a report on Tuesday, January 9th. They issued an “equal weight” rating and a $17.00 price target for the company. Stifel Nicolaus initiated coverage on Casa Systems in a report on Tuesday, January 9th. They issued a “buy” rating and a $23.00 price target for the company. Morgan Stanley initiated coverage on Casa Systems in a report on Tuesday, January 9th. They issued an “equal weight” rating and a $21.00 price target for the company. William Blair initiated coverage on Casa Systems in a report on Tuesday, January 9th. They issued an “outperform” rating for the company. Finally, Northland Securities initiated coverage on Casa Systems in a report on Tuesday, January 9th. They issued an “outperform” rating and a $25.00 price target for the company. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $22.17.

Casa Systems (NASDAQ:CASA) traded up $0.56 during trading on Wednesday, reaching $19.27. Casa Systems has a 12 month low of $13.25 and a 12 month high of $22.50. The company has a quick ratio of 3.22, a current ratio of 3.78 and a debt-to-equity ratio of -2.74.

In other news, Director Bruce R. Evans acquired 250,000 shares of Casa Systems stock in a transaction that occurred on Tuesday, December 19th. The stock was purchased at an average cost of $13.00 per share, with a total value of $3,250,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jerry Guo acquired 100,000 shares of Casa Systems stock in a transaction that occurred on Tuesday, December 19th. The shares were purchased at an average cost of $13.00 per share, with a total value of $1,300,000.00. The disclosure for this purchase can be found here.

Hedge funds have recently modified their holdings of the stock. Gilder Gagnon Howe & Co. LLC acquired a new position in Casa Systems during the fourth quarter worth $232,000. Wolverine Asset Management LLC acquired a new position in Casa Systems during the fourth quarter worth $266,000. Needham Investment Management LLC acquired a new position in Casa Systems during the fourth quarter worth $375,000. Quad Capital Management Advisors LLC purchased a new position in Casa Systems during the fourth quarter worth $408,000. Finally, Goldman Sachs Group Inc. purchased a new position in Casa Systems during the fourth quarter worth $583,000. 50.57% of the stock is owned by hedge funds and other institutional investors.

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About Casa Systems

Casa Systems, Inc is provides a software-centric infrastructure solutions. In addition, the Company offers solutions for next-generation distributed and virtualized architectures in cable operator, fixed telecom and wireless networks. Its products include axyom software platform, delivery platforms, multi-service applications, capacity expansion products.

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