Eargo (NASDAQ:EAR) Sets New 1-Year High Following Analyst Upgrade

Shares of Eargo, Inc. (NASDAQ:EAR) hit a new 52-week high on Wednesday after Wells Fargo & Company raised their price target on the stock from $53.00 to $60.00. The company traded as high as $62.79 and last traded at $61.00, with a volume of 18885 shares changing hands. The stock had previously closed at $53.92.

Other equities analysts have also issued research reports about the company. William Blair began coverage on Eargo in a research note on Tuesday, November 10th. They issued an “outperform” rating on the stock. ValuEngine cut Eargo from a “hold” rating to a “sell” rating in a research report on Saturday, November 21st. Bank of America assumed coverage on Eargo in a research report on Wednesday, November 11th. They set a “buy” rating and a $43.00 price target for the company. Finally, JPMorgan Chase & Co. initiated coverage on Eargo in a research report on Tuesday, November 10th. They issued an “overweight” rating and a $41.00 price objective for the company. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $48.00.

The business’s 50-day moving average price is $49.36.

Eargo (NASDAQ:EAR) last issued its quarterly earnings data on Thursday, November 19th. The company reported $4.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.56) by $4.64. The company had revenue of $18.19 million during the quarter, compared to analysts’ expectations of $18.16 million. Equities research analysts predict that Eargo, Inc. will post -1.42 earnings per share for the current fiscal year.

Eargo Company Profile (NASDAQ:EAR)

Eargo, Inc, a consumer-focused medical device company, develops and sells hearing aids to assist people with hearing loss in the United States. It sells its products through online stores. The company was formerly known as Aria Innovations, Inc and changed its name to Eargo, Inc in November 2014. Eargo, Inc was founded in 2010 and is headquartered in San Jose, California.

Featured Story: S&P/TSX Index

Receive News & Ratings for Eargo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eargo and related companies with MarketBeat.com's FREE daily email newsletter.