Analysts adjusted their ratings on AVG Technologies NV (AVG), Equinix Inc (EQIX), and Hologic, Inc. (HOLX)
Analysts are weighing in today on software and online services provider AVG Technologies NV (NYSE:AVG), IT firm Equinix, Inc. (NASDAQ:EQIX), and medical device maker Hologic, Inc. (NASDAQ:HOLX). Here's a quick look at today's brokerage notes on AVG, EQIX, and HOLX.
- AVG posted a first-quarter earnings beat last night, prompting Cowen and Company and JMP Securities to raise their price targets on the equity. Specifically, the former raised its target to $23 from $22, and the latter hiked its target to $33 from $26 -- well into uncharted territory. At last check, the shares of AVG Technologies NV were up 10.9% at $24.30 -- and earlier touched an annual high of $24.59 -- bringing their year-to-date advance to 23.1%. What's more, the shares have shot above their 50-day moving average, which emerged as resistance in mid-April. Options traders are likely cheering the news, as 131 AVG calls have been bought to open for every put over the past 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). Furthermore, AVG's Schaeffer's put/call open interest ratio (SOIR) of 0.30 is the lowest such reading from the past year, showing that short-term traders have never been more call-skewed over that period of time.
- The shares of EQIX are 5.7% higher at $258.83 -- and earlier touched an all-time high of $262 -- after the company released first-quarter earnings that toppled expectations. In response, no fewer than five brokerage firms hiked their price targets on the stock, with the most ambitious raises coming from Canaccord Genuity (to $300) and Stifel (to $285). Technically speaking, Equinix Inc has been an outperformer, with the shares up 37% year-over-year. However, options traders have favored puts over calls lately, as EQIX's 10-day ISE/CBOE/PHLX put/call volume ratio of 3.57 ranks in the 82nd percentile of its annual range. Elsewhere, the brokerage bunch has been optimistic on the equity, as 69% of covering analysts rate it a "buy" or better, with no "sell" or worse recommendations to be found.
- HOLX released fiscal second-quarter earnings that exceeded estimates, and upped its full-year guidance, sending the shares 4.8% higher to $34.21 -- and earlier to a seven-year high of $34.65. Reacting were Cowen and Company, Jefferies, and Craig-Hallum, which increased their price targets to $35, $38, and $36, respectively. On the charts, Hologic, Inc. has been a technical beast, with the shares up nearly 28% year-to-date. Not surprisingly, calls have been popular in the options pits, as HOLX's 50-day ISE/CBOE/PHLX call/put volume ratio of 18.76 is higher than 78% of all similar readings from the past year.