Corero Network Security (LON:CNS) Stock Jumps 18.8% – Here’s Why

Shares of Corero Network Security plc (LON:CNS) shot up 18.8% during mid-day trading on Wednesday. The stock traded as high as GBX 14.70 and last traded at GBX 14.26. 3,316,838 shares changed hands during mid-day trading, an increase of 555% from the average daily volume of 506,222 shares. The stock had previously closed at GBX 12.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group lifted their price target on Corero Network Security from GBX 20 to GBX 21 and gave the stock a “buy” rating in a report on Wednesday, September 9th. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of GBX 21.

Corero Network Security Trading Up 18.8%

The company has a quick ratio of 1.20, a current ratio of 1.27 and a debt-to-equity ratio of 1.94. The firm has a market cap of £73.01 million, a P/E ratio of 20.36 and a beta of 0.46. The firm’s 50-day simple moving average is GBX 9.84 and its 200 day simple moving average is GBX 10.54.

About Corero Network Security

Corero Network Security plc is a global leader in real-time, high-performance, automatic DDoS cyber defense solutions. Both Service and Hosting providers, alongside digital enterprises across the globe rely on Corero’s award winning cybersecurity technology to eliminate the threat of Distributed Denial of Service (DDoS) to their digital environment through automatic attack detection and mitigation, coupled with network visibility, analytics and reporting. Corero’s industry leading SmartWall and SecureWatch technology provides scalable protection capabilities against external DDoS attackers and internal DDoS botnets in the most complex edge and subscriber environments, while enabling a more cost-effective economic model than previously available.