Wells Fargo & Company Has Lowered Expectations for Lumen Technologies (NYSE:LUMN) Stock Price

Lumen Technologies (NYSE:LUMN) had its target price dropped by equities researchers at Wells Fargo & Company from $7.50 to $5.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 27.06% from the company’s previous close.

A number of other research firms have also recently issued reports on LUMN. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. The Goldman Sachs Group lowered their target price on Lumen Technologies from $8.50 to $7.25 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a research report on Friday, July 17th. Citigroup decreased their price objective on Lumen Technologies from $10.00 to $8.25 and set a “neutral” rating for the company in a report on Tuesday, August 11th. Finally, Moffett Nathanson upgraded shares of Lumen Technologies from a “sell” rating to a “neutral” rating and set a $4.00 price objective on the stock in a research note on Friday, October 30th. Ten equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $7.06.

Lumen Technologies Stock Performance

NYSE LUMN traded down $0.54 on Thursday, hitting $3.94. 11,621,931 shares of the stock were exchanged, compared to its average volume of 13,662,748. The stock has a fifty day moving average price of $5.66 and a two-hundred day moving average price of $7.19. The firm has a market capitalization of $4.06 billion, a P/E ratio of -3.85 and a beta of 1.94. Lumen Technologies has a 52-week low of $3.84 and a 52-week high of $11.43.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Wednesday, November 4th. The technology company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.09. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.73 billion. Sell-side analysts expect that Lumen Technologies will post -0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lumen Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in Lumen Technologies by 3.5% during the 2nd quarter. BlackRock Inc. now owns 142,261,845 shares of the technology company’s stock valued at $1,092,571,000 after acquiring an additional 4,796,141 shares during the period. State Street Corp increased its stake in shares of Lumen Technologies by 4.3% in the second quarter. State Street Corp now owns 48,003,189 shares of the technology company’s stock worth $368,664,000 after acquiring an additional 1,990,860 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Lumen Technologies by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 14,994,640 shares of the technology company’s stock worth $104,156,000 after acquiring an additional 144,664 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Lumen Technologies by 87.2% during the second quarter. Bank of New York Mellon Corp now owns 10,489,367 shares of the technology company’s stock worth $80,558,000 after purchasing an additional 4,886,999 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in Lumen Technologies by 18.7% during the second quarter. Allianz Asset Management GmbH now owns 10,074,316 shares of the technology company’s stock valued at $77,371,000 after purchasing an additional 1,585,083 shares during the period. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies News Summary

Here are the key news stories impacting Lumen Technologies this week:

• Positive Sentiment: Strategic revenue grew about 10%, reaching 55% of business revenue, with AI-related demand and adoption of Lumen’s Network-as-a-Service platform supporting the shift toward higher-growth services. Lumen Q3 earnings call highlights
• Positive Sentiment: The company reaffirmed full-year adjusted EBITDA guidance and said it remains on track for an EBITDA inflection in 2026, signaling confidence in its transformation and cost-management efforts. Lumen third-quarter results
• Positive Sentiment: Lumen’s adjusted loss narrowed to $0.14 per share, better than analysts’ expectations, providing a favorable earnings surprise despite the revenue weakness. Lumen earnings results
• Negative Sentiment: Revenue was about $2.71 billion, slightly below estimates, and declined year over year. Continued contraction in the broader business could offset growth in strategic services. Lumen Q3 adjusted loss narrows, revenue falls
• Negative Sentiment: Free cash flow turned negative, raising concern about cash generation even as the company maintained its EBITDA outlook. Lumen Q3 earnings call highlights

Lumen Technologies Company Profile

Lumen Technologies, Inc is a communications and technology company that provides network, connectivity, cloud, cybersecurity and managed services primarily to businesses, government organizations and wholesale customers. Its offerings include fiber-based internet and data transport, software-defined networking, network security, unified communications, voice services, edge computing and related information technology solutions.

The company operates one of the largest enterprise fiber networks in the United States and also serves customers internationally through its global network and wholesale operations.