Imperial Capital Cuts Price Target on AVG Technologies (AVG) Following 1Q Beat
Get Alerts AVG Hot Sheet
Rating Summary:
1 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
Join SI Premium – FREE
Imperial Capital maintained an In-Line rating on AVG Technologies (NYSE: AVG), and cut the price target to $21.00 (from $22.00), following the company's 1Q earnings report. AVG reported 1Q16 revenue of $107.9mn and adjusted EPS of $0.44, above the Street's revenue estimates of $107.2mn and adjusted EPS estimates of $0.41.
Analyst Michael Kim commented, "We are maintaining our In-Line rating on AVG shares and lowering our one-year price target to $21 from $22. Our price target implies potential upside of about 10% above recent levels. We see consistent growth trends in the mobile segment, offset by lower search revenue, ongoing turnaround of AVG Business, and flat revenue in the traditional consumer desktop business. Also, while we expect increased cross-selling of the VPN products (Privax), 1Q16 performance implies significant sequential expansion to attain the upper end of annual guidance."
For an analyst ratings summary and ratings history on AVG Technologies click here. For more ratings news on AVG Technologies click here.
Shares of AVG Technologies closed at $19.12 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- China Resources Beer Holdings Co Ltd. (291:HK) (CRHKY) PT Raised to HK$44.67 at Jefferies
- Omega Healthcare Investors (OHI) PT Raised to $32 at Citi
- Societe Generale Downgrades EDP Renovaveis SA (EDPR:LI) (EDRVF) to Hold
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Earnings, Imperial CapitalSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!