DA Davidson started coverage on shares of Casa Systems (NASDAQ:CASA) in a report released on Monday, MarketBeat.com reports. The firm issued a buy rating and a $12.00 price objective on the stock.
Several other equities research analysts have also issued reports on the stock. Needham & Company LLC lowered shares of Casa Systems from a buy rating to a hold rating in a research note on Wednesday, February 13th. ValuEngine lowered shares of Casa Systems from a hold rating to a sell rating in a research note on Monday, February 4th. Morgan Stanley lowered shares of Casa Systems from an overweight rating to an equal weight rating and lowered their price target for the company from $18.00 to $11.00 in a research note on Friday, January 18th. William Blair lowered shares of Casa Systems from an outperform rating to a market perform rating in a research note on Friday, February 22nd. Finally, Stifel Nicolaus lowered shares of Casa Systems from a buy rating to a hold rating and lowered their price target for the company from $18.00 to $14.00 in a research note on Friday, January 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $15.63.
Shares of CASA stock opened at $9.01 on Monday. The company has a current ratio of 4.69, a quick ratio of 4.11 and a debt-to-equity ratio of 3.92. Casa Systems has a 1 year low of $8.85 and a 1 year high of $33.90. The firm has a market capitalization of $756.47 million, a price-to-earnings ratio of 11.23 and a beta of -0.46.
Casa Systems (NASDAQ:CASA) last issued its quarterly earnings results on Thursday, February 21st. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.05. Casa Systems had a net margin of 24.57% and a return on equity of 86.77%. The firm had revenue of $67.83 million for the quarter, compared to analyst estimates of $65.93 million. Research analysts expect that Casa Systems will post 0.23 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Royce & Associates LP bought a new position in shares of Casa Systems in the 4th quarter valued at about $26,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of Casa Systems in the 4th quarter valued at about $28,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Casa Systems in the 4th quarter valued at about $33,000. Great West Life Assurance Co. Can bought a new position in shares of Casa Systems in the 4th quarter valued at about $79,000. Finally, Metropolitan Life Insurance Co. NY grew its position in shares of Casa Systems by 356.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,129 shares of the company’s stock valued at $120,000 after acquiring an additional 7,130 shares during the period. 66.45% of the stock is owned by institutional investors.
About Casa Systems
Casa Systems, Inc provides software-centric broadband products in North America, Latin America, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers solutions that allow cable service providers to deliver voice, video, and data services over a single platform at multi-gigabit speeds.
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