B. Riley Reiterates “$8.00” Price Target for Infinera (NASDAQ:INFN)

B. Riley set a $8.00 price target on Infinera (NASDAQ:INFN) in a research report report published on Friday, TipRanks reports. The firm currently has a buy rating on the communications equipment provider’s stock.

A number of other brokerages have also weighed in on INFN. Raymond James upgraded Infinera from an underperform rating to a market perform rating in a research note on Thursday, August 8th. MKM Partners raised their price objective on Infinera from $6.00 to $7.00 and gave the stock a buy rating in a research note on Tuesday, October 1st. ValuEngine lowered Infinera from a buy rating to a hold rating in a research note on Wednesday, September 4th. Goldman Sachs Group upgraded Infinera from a neutral rating to a buy rating in a research note on Thursday, August 8th. Finally, Needham & Company LLC restated a buy rating and set a $9.00 price objective on shares of Infinera in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $6.23.

Shares of NASDAQ INFN traded up $0.03 during trading hours on Friday, reaching $5.46. 1,052,847 shares of the stock were exchanged, compared to its average volume of 2,557,215. The firm has a market capitalization of $975.92 million, a price-to-earnings ratio of -8.53 and a beta of 0.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.91 and a current ratio of 1.54. Infinera has a 52 week low of $2.80 and a 52 week high of $6.33. The stock’s fifty day simple moving average is $5.41 and its 200 day simple moving average is $4.21.

Infinera (NASDAQ:INFN) last announced its earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.24) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.11. The company had revenue of $296.25 million for the quarter, compared to analyst estimates of $300.40 million. Infinera had a negative return on equity of 27.60% and a negative net margin of 35.53%. The firm’s quarterly revenue was up 42.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) earnings per share. Research analysts predict that Infinera will post -0.91 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. US Bancorp DE boosted its holdings in shares of Infinera by 20.1% in the 2nd quarter. US Bancorp DE now owns 24,211 shares of the communications equipment provider’s stock valued at $70,000 after purchasing an additional 4,051 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Infinera by 95.2% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 22,010 shares of the communications equipment provider’s stock valued at $66,000 after purchasing an additional 10,733 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Infinera by 63.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 38,646 shares of the communications equipment provider’s stock valued at $211,000 after purchasing an additional 14,935 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of Infinera by 20.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 107,673 shares of the communications equipment provider’s stock valued at $313,000 after purchasing an additional 18,036 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Infinera by 9.5% in the 3rd quarter. Rhumbline Advisers now owns 268,812 shares of the communications equipment provider’s stock valued at $1,465,000 after purchasing an additional 23,405 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

About Infinera

Infinera Corporation provides optical transport networking equipment and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.

Featured Story: What are different types of coverage ratios?

Analyst Recommendations for Infinera (NASDAQ:INFN)

Receive News & Ratings for Infinera Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinera and related companies with MarketBeat.com's FREE daily email newsletter.