Needham & Company LLC started coverage on shares of Casa Systems (NASDAQ:CASA) in a report issued on Sunday. The firm set a “buy” rating and a $15.08 price target on the stock. Needham & Company LLC’s target price would suggest a potential downside of 0.66% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. Macquarie cut Casa Systems from an “outperform” rating to a “neutral” rating and set a $24.00 price objective on the stock. in a research note on Wednesday, August 15th. Zacks Investment Research cut Casa Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, September 11th. Northland Securities set a $17.00 target price on Casa Systems and gave the company a “buy” rating in a research note on Wednesday, August 15th. Loop Capital cut their target price on Casa Systems to $12.00 and set a “positive” rating on the stock in a research note on Wednesday, August 15th. Finally, Morgan Stanley cut their target price on Casa Systems from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, August 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $19.23.
NASDAQ CASA traded down $0.49 during trading hours on Friday, hitting $15.18. 337,860 shares of the company were exchanged, compared to its average volume of 341,434. The company has a debt-to-equity ratio of 3.43, a current ratio of 5.09 and a quick ratio of 4.61. Casa Systems has a 52 week low of $11.26 and a 52 week high of $34.21. The stock has a market capitalization of $1.31 billion and a P/E ratio of 19.22.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP bought a new position in Casa Systems during the second quarter worth $1,331,000. Engineers Gate Manager LP bought a new position in Casa Systems during the second quarter worth $1,696,000. Rhumbline Advisers bought a new position in Casa Systems during the second quarter worth $213,000. SG Americas Securities LLC bought a new position in Casa Systems during the second quarter worth $1,468,000. Finally, Trexquant Investment LP bought a new position in Casa Systems during the second quarter worth $1,107,000. 63.72% of the stock is currently owned by hedge funds and other institutional investors.
About Casa Systems
Casa Systems, Inc provides software-centric broadband products in North America, Latin America, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers software-centric infrastructure solutions that allow cable service providers to deliver voice, video, and data services over a single platform at multi-gigabit speeds.
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