The stocks of INSG have their stocks reduced by investors working at Lake Street Capital from a rating of buy to a rating of hold in a research report that was published last Tuesday. According to said report, the price target has been set at $13, which is a massive reduction from its previous price target of $17. The price objective set by the brokerage firm on INSG is indicative of a negative growth rate of about 13.51%.
The Stock Commentary Of INSG
There have been quite a few research equities that have commented on the stocks of INSG. Cowen has already reduced the prices of the stock from $20 to $15, along with a rating of outperform set last Tuesday. Canaccord Genuity has also reduced the rating of the company from buy to hold in a Tuesday research report. In the end, Stifel Nicolaus went ahead and put up a price target of $13, along with a rating that was reduced from buy to hold.
Six of the research analysts covering the stocks of INSG have already given it a hold rating, while two other investment analysts gave it a rating of buy. Currently, the company enjoys a hold rating with a $12.61 price target.
The stocks of INSG traded on Tuesday at $15.03. The market cap of the stock has been set at $1.49 billion, with a 1.92 beta, and a -12.42 PE ratio. The company has a year low of $3.91, with a year high of around $21.93. The moving average price of the company over 50 days is $17.40, while the moving average price of the company over 200 days is $12.84.
INSG previously had released the results of their quarterly earnings on the 1st of March. The EPS reported by the company was $0.07, which missed out on the consensus estimate of $0.05. The revenue generated by the business for the quarter was $86.10 million, which was more than the consensus estimate of $83.80 million.
