Shares of Casa Systems Inc (NASDAQ:CASA) have been assigned a consensus rating of “Buy” from the eleven brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $19.75.
A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Casa Systems from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Wednesday, November 14th. Needham & Company LLC started coverage on shares of Casa Systems in a research report on Thursday. They issued a “buy” rating on the stock. Northland Securities set a $17.00 target price on shares of Casa Systems and gave the stock a “buy” rating in a research report on Wednesday, August 15th. Loop Capital upgraded shares of Casa Systems from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Friday, August 24th. Finally, Morgan Stanley decreased their target price on shares of Casa Systems from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, August 16th.
Large investors have recently modified their holdings of the stock. LPL Financial LLC purchased a new position in Casa Systems in the 3rd quarter worth $150,000. Victory Capital Management Inc. purchased a new position in Casa Systems in the 3rd quarter worth $194,000. HPM Partners LLC purchased a new position in shares of Casa Systems in the second quarter valued at about $213,000. Rhumbline Advisers purchased a new position in shares of Casa Systems in the second quarter valued at about $213,000. Finally, NumerixS Investment Technologies Inc increased its position in shares of Casa Systems by 3,250.0% in the second quarter. NumerixS Investment Technologies Inc now owns 13,400 shares of the company’s stock valued at $215,000 after acquiring an additional 13,000 shares during the period. Institutional investors own 61.72% of the company’s stock.
NASDAQ CASA opened at $15.08 on Friday. Casa Systems has a 52-week low of $11.26 and a 52-week high of $34.21. The company has a quick ratio of 4.61, a current ratio of 5.09 and a debt-to-equity ratio of 3.43. The firm has a market cap of $1.30 billion and a PE ratio of 19.09.
Casa Systems (NASDAQ:CASA) last posted its quarterly earnings data on Wednesday, November 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.08. Casa Systems had a net margin of 17.93% and a return on equity of 109.09%. The company had revenue of $71.50 million during the quarter, compared to the consensus estimate of $75.88 million. During the same period in the previous year, the firm posted $0.31 EPS. The firm’s revenue was down 24.1% compared to the same quarter last year. On average, equities analysts expect that Casa Systems will post 0.81 EPS for the current year.
Casa Systems Company Profile
Casa Systems, Inc provides software-centric broadband products in North America, Latin America, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers software-centric infrastructure solutions that allow cable service providers to deliver voice, video, and data services over a single platform at multi-gigabit speeds.
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