Casa Systems (CASA) Now Covered by Analysts at Needham & Company LLC

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.

Casa Systems (NASDAQ:CASA) last issued its quarterly earnings data on Wednesday, November 7th. The company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.08. Casa Systems had a return on equity of 109.09% and a net margin of 17.93%. The company had revenue of $71.50 million for the quarter, compared to analysts’ expectations of $75.88 million. During the same period in the previous year, the firm posted $0.31 earnings per share. The firm’s revenue for the quarter was down 24.1% on a year-over-year basis. As a group, equities research analysts anticipate that Casa Systems will post 0.81 earnings per share for the current fiscal year.

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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Analyst Recommendations for Casa Systems (NASDAQ:CASA)

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