Casa Systems (NASDAQ:CASA) Trading 16.6% Higher After Strong Earnings
Shares of Casa Systems Inc (NASDAQ:CASA) traded up 16.6% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $5.73 and last traded at $5.62, 798,045 shares changed hands during trading. An increase of 60% from the average session volume of 498,157 shares. The stock had previously closed at $4.82.
The company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.04. The firm had revenue of $83.35 million during the quarter, compared to analysts’ expectations of $79.50 million. Casa Systems had a negative net margin of 9.96% and a negative return on equity of 7.58%.
A number of research analysts have recently commented on the company. Zacks Investment Research lowered Casa Systems from a “buy” rating to a “hold” rating in a report on Friday, May 29th. BidaskClub upgraded shares of Casa Systems from a “hold” rating to a “buy” rating in a research note on Saturday. Northland Securities reissued a “buy” rating and set a $8.00 target price on shares of Casa Systems in a research report on Friday. Barclays reiterated a “hold” rating and issued a $5.00 price objective on shares of Casa Systems in a research note on Sunday, May 3rd. Finally, Morgan Stanley upped their price target on Casa Systems from $4.00 to $5.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Casa Systems has an average rating of “Hold” and a consensus target price of $5.75.
The stock’s 50 day moving average is $4.38 and its two-hundred day moving average is $4.02. The firm has a market capitalization of $465.85 million, a P/E ratio of -12.75 and a beta of 0.98. The company has a debt-to-equity ratio of 7.30, a current ratio of 4.04 and a quick ratio of 2.90.
Casa Systems Company Profile (NASDAQ:CASA)
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 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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