Analyst Update: Juniper, Activision Blizzard, Stratasys

Analysts adjusted their ratings and price targets on Juniper Networks, Inc. (NYSE:JNPR), Activision Blizzard, Inc. (NASDAQ:ATVI), and Stratasys, Ltd. (NASDAQ:SSYS)

Josh Selway
Oct 23, 2015 at 2:59 PM
facebook twitter linkedin


Analysts are weighing in today on tech stock Juniper Networks, Inc. (NYSE:JNPR), video game producer Activision Blizzard, Inc. (NASDAQ:ATVI), and 3-D printing firm Stratasys, Ltd. (NASDAQ:SSYS). Here's a quick roundup of today's brokerage notes on JNPR, ATVI, and SSYS.

  • JNPR is getting a shot in the arm today, after the company last night beat the Street's earnings and revenue expectations. The stock has gained 4.3% to trade at $31.03, earlier hitting a four-year high of $31.51. This outperformance is nothing new for the shares, which were already boasting a 33% year-to-date advance coming into today. While Juniper Networks, Inc. has received no fewer than six price-target hikes today alone, it still stands to benefit from even more bullish analyst attention. For one, 59% of covering brokerage firms rate the shares just a "hold." Moreover, JNPR's average 12-month price target of $30.06 sits at a discount to current levels. Higher highs could be in store for the outperformer as analysts continue to come around. 

  • ATVI has been straight fire recently, outperforming the broader S&P 500 Index (SPX) by 37 percentage points over the past 60 sessions. Nothing's changed today; the shares just tagged a record high of $35.44, last seen up 0.3% at $34.85. Fueling the gains is a price-target hike to $38 from $32 at MKM Partners. On the news front, the company yesterday announced it has created a new division devoted to e-sports, with former ESPN CEO Steve Bornstein serving as its chairman. Now, we'll have to see if this price action drives away Activision Blizzard, Inc. bears. Short interest suddenly jumped 24% during the two most recent reporting periods, and it would take over a week for short sellers to buy back their bets, going by average daily volumes. Said simply, ATVI could see additional gains fueled by a short squeeze

  • SSYS​, on the other hand, is having a miserable day, after the company last night announced dreadful preliminary third-quarter numbers. Analysts were quick to respond, with Cowen and Company, BofA-Merrill Lynch, and UBS all lowering their price targets, with the latter setting the bar the lowest at $18. The shares have dropped 11.1% today at $27.45, earlier touching another multi-year low of $24.80. It's not bad news for everyone, though. Twenty-six percent of Stratasys, Ltd.'s float is sold short, and it would take over two weeks for bears to repurchase their shorted shares, at the stock's typical trading pace. 
For other stocks in analysts' crosshairs, read Analyst Upgrades: Amazon.com, Inc., Alphabet Inc, and Microsoft Corporation and Analyst Downgrades: Pandora Media Inc, Skechers USA Inc, and Fortinet Inc

A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earnings guide for Q3 before it's too late!


  
 

Partnercenter