Evolving Systems (NASDAQ:EVOL) was downgraded by analysts at B. Riley from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports.
A number of other firms have also recently commented on EVOL. Analysts at Zacks downgraded shares of Evolving Systems from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday. They now have a $12.00 price target on the stock. Finally, analysts at DA Davidson initiated coverage on shares of Evolving Systems in a research note to investors on Tuesday, October 1st. They set a “buy” rating and a $12.00 price target on the stock.
Shares of Evolving Systems (NASDAQ:EVOL) traded down 3.07% during mid-day trading on Friday, hitting $10.09. The stock had a trading volume of 22,586 shares. Evolving Systems has a 1-year low of $5.38 and a 1-year high of $11.34. The stock has a 50-day moving average of $10.26 and a 200-day moving average of $7.91. The company has a market cap of $115.4 million and a price-to-earnings ratio of 25.39.
Evolving Systems (NASDAQ:EVOL) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.09 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.09. During the same quarter last year, the company posted $0.20 earnings per share. Analysts expect that Evolving Systems will post $0.46 EPS for the current fiscal year.
Evolving Systems, Inc is a provider of software solutions and services to the wireless, wireline and cable markets.
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