Analyst Says Buy the Weakness in LeapFrog (LF) Shares Following CFO Resignation
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Get Alerts LF Hot Sheet
Price: $9.80 +1.45%
Rating Summary:
5 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
5 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade LF Now!
An analyst at Roth Capital is recommending buying shares of LeapFrog (NYSE: LF) Friday morning as the stock is down more than 7.5 percent on unexpected news the company's CFO Etnyre resigned. The analyst also pointed to a downgrade from Needham Thursday afternoon, saying these two items have likely created a great entry point into LeapFrog.
Although the company's Board has not named a replacement for Etnyre, the analyst believes the management team he built will be able to transition smoothly.
The Roth analyst is optimistic on the upcoming release of LeapFrog's LeapPad2, and said there is "considerable" earnings power not currently baked into the stock price.
Friday's selling follows a 9 percent surge in LeapFrog shares on Thursday as investors positioned themselves ahead of new product releases. Technical levels at both $11 and $11.50 were given back this morning. Shares of LeapFrog last traded at $10.65.
Visit our Analyst Ratings page to track all the market-moving analyst action on shares of LeapFrog.
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Although the company's Board has not named a replacement for Etnyre, the analyst believes the management team he built will be able to transition smoothly.
The Roth analyst is optimistic on the upcoming release of LeapFrog's LeapPad2, and said there is "considerable" earnings power not currently baked into the stock price.
Friday's selling follows a 9 percent surge in LeapFrog shares on Thursday as investors positioned themselves ahead of new product releases. Technical levels at both $11 and $11.50 were given back this morning. Shares of LeapFrog last traded at $10.65.
Visit our Analyst Ratings page to track all the market-moving analyst action on shares of LeapFrog.
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