Zacks Investment Research upgraded shares of Casa Systems (NASDAQ:CASA) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “Casa Systems, Inc. develops and provides digital cable video and broadband services. It offers fixed, mobile, optical and wireless network solutions for ultra-broadband services, carrier-grade solutions to cable service providers and cable network access solutions which incorporate RF engineering, high-density access aggregation, software innovation and extreme subscriber management capabilities. Casa Systems, Inc. is headquartered in Andover, MA. “

Other analysts have also recently issued reports about the stock. Macquarie cut shares of Casa Systems from an outperform rating to a neutral rating and set a $24.00 target price for the company. in a research note on Wednesday. Loop Capital lowered their target price on shares of Casa Systems to $12.00 and set a positive rating for the company in a research note on Wednesday. Northland Securities set a $25.00 target price on shares of Casa Systems and gave the stock a buy rating in a research note on Thursday, July 12th. Morgan Stanley upgraded shares of Casa Systems from an equal weight rating to an overweight rating and set a $23.00 target price for the company in a research note on Tuesday, July 10th. Finally, Stifel Nicolaus lifted their target price on shares of Casa Systems from $27.00 to $31.00 and gave the stock a buy rating in a research note on Friday, April 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $22.88.

CASA stock opened at $12.48 on Wednesday. The company has a market capitalization of $1.29 billion and a P/E ratio of 15.80. The company has a quick ratio of 4.93, a current ratio of 5.29 and a debt-to-equity ratio of 4.11. Casa Systems has a 52 week low of $11.26 and a 52 week high of $34.21.

Casa Systems (NASDAQ:CASA) last released its earnings results on Tuesday, August 14th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The company had revenue of $68.70 million during the quarter, compared to analyst estimates of $90.64 million. The company’s revenue was up 3.2% on a year-over-year basis. equities research analysts forecast that Casa Systems will post 1.02 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of CASA. Goldman Sachs Group Inc. purchased a new position in Casa Systems during the 4th quarter worth approximately $583,000. Millennium Management LLC purchased a new position in Casa Systems during the 4th quarter worth approximately $903,000. Wells Fargo & Company MN purchased a new position in Casa Systems during the 1st quarter worth approximately $474,000. Alps Advisors Inc. purchased a new position in Casa Systems during the 1st quarter worth approximately $470,000. Finally, Prudential Financial Inc. purchased a new position in Casa Systems during the 1st quarter worth approximately $1,514,000. 49.67% of the stock is owned by 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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