Raymond James lowered shares of Velti (NASDAQ: VELT) from an outperform rating to a market perform rating in a research report released on Wednesday morning, TheFlyOnTheWall.com reports. Raymond James currently has $8.00 price target on the stock.
Shares of Velti (NASDAQ: VELT) remained flat at $2.06 during during mid-day trading trading on Wednesday. Velti has a one year low of $2.00 and a one year high of $14.65. The stock’s 50-day moving average is currently $3.85. The company’s market cap is $135.2 million.
VELT has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of Velti from a neutral rating to an underperform rating in a research note to investors on Wednesday, February 13th. They now have a $3.90 price target on the stock. Separately, analysts at Jefferies Group downgraded shares of Velti to a buy rating in a research note to investors on Thursday, January 31st. They now have a $8.00 price target on the stock, down previously from $12.00. Finally, analysts at Craig Hallum downgraded shares of Velti from a buy rating to a hold rating in a research note to investors on Thursday, January 31st. They now have a $4.00 price target on the stock, down previously from $12.00.
One investment analyst has rated the stock with a buy rating, and seven have issued a hold rating to the stock. The company presently has an average rating of hold and an average price target of $5.04.
Velti plc (Velti) is a global provider of mobile marketing and advertising technology and solutions. The Company’s platform Velti mGage, allows its customers to use mobile and media, such as television, print, radio and outdoor advertising to target, reach, and engage consumers through mobile Internet applications; convert consumers into their customers, and continue to manage the relationship through the mobile channel.
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