According to The Fly, Citigroup analysts reduced Velodyne Lidar’s (NASDAQ: VLDR) price objective from $1.70 to $1.30 in a research note distributed to investors on Wednesday. According to Citigroup, the target price represents a potential rise over the stock’s 21.50% current price.
There have been numerous papers on more VLDR research. On November 9, Oppenheimer kept its “market perform” rating on the stock of Velodyne Lidar. JPMorgan Chase & Co. started reporting on Velodyne Lidar on Tuesday, September 20. They rated the company as “underweight.” The Goldman Sachs Group cut its price objective for Velodyne Lidar from $1.50 to $1.00 in a report issued on Tuesday, October 11, and rated the company as “neutral.” On November 9, Craig Hallum released a report in which they revised their recommendation from “sell” to “hold” and decreased their price objective for Velodyne Lidar from $1.00 to $0.85. Finally, on November 1, Westpark Capital finally started to cover Velodyne Lidar with a report. The company was rated as “underperform.” One buy rating, two sell recommendations, three hold ratings, one buy rating, one sell recommendation, and one hold rating have all been assigned to the stock by research analysts. According to information from Bloomberg.com, Velodyne Lidar now has a consensus “Hold” rating and a consensus target price of $2.26.
VLDR stock began trading on Wednesday at $1.07. The stock’s 50-day and 200-day moving averages are $1.15 at the current price of $0.97. Velodyne Lidar has a one-year low of $0.71 and a one-year high of $5.53. The stock is well capitalized, with a market value of $254.22 million, a P/E ratio of 1.26, and a beta of 1.21.
Velodyne Lidar (NASDAQ: VLDR) announced its most recent quarterly earnings report on Tuesday, November 8. For the quarter, the company’s ($0.15) EPS exceeded analysts’ ($0.28) forecasts by $0.13. In addition, Velodyne Lidar had a return on equity of -64.20% and a negative net margin of 384.34%. Analysts had anticipated a quarterly revenue of $9.40 million, but the company made $9.64 million. As a result, analysts anticipate -0.79 EPS for Velodyne Lidar for the current fiscal year.
