Equities researchers at Canaccord Genuity increased their target price on shares of Apple (NASDAQ:AAPL) from $550.00 to $560.00 in a research report issued on Tuesday, StockRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s target price points to a potential upside of 14.50% from the company’s current price.
A number of other firms have also recently commented on AAPL. Analysts at Barclays Capital raised their price target on shares of Apple (NASDAQ:AAPL) from $525.00 to $540.00 in a research note to investors on Tuesday. They now have an “overweight” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Apple (NASDAQ:AAPL) in a research note to investors on Tuesday. They now have a $560.00 price target on the stock, up previously from $530.00. Finally, analysts at Susquehanna upgraded shares of Apple (NASDAQ:AAPL) from a “neutral” rating to a “positive” rating in a research note to investors on Tuesday. They now have a $625.00 price target on the stock, up previously from $440.00.
Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, forty have assigned a buy rating and three have given a strong buy rating to the stock. Apple has a consensus rating of “Buy” and a consensus target price of $551.02.
Apple (NASDAQ:AAPL) traded down 0.31% on Tuesday, hitting $489.10. 12,918,162 shares of the company’s stock traded hands. Apple has a 1-year low of $385.10 and a 1-year high of $692.78. The stock has a 50-day moving average of $483.8 and a 200-day moving average of $446.. The company has a market cap of $444.3 billion and a P/E ratio of 12.23. Apple also was the target of some unusual options trading activity on Monday. Traders purchased 280,512 call options on the stock. This is an increase of approximately 653% compared to the typical volume of 37,232 call options.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $7.47 EPS for the quarter, beating the Thomson Reuters consensus estimate of $7.28 by $0.19. The company had revenue of $35.32 billion for the quarter, compared to the consensus estimate of $35.01 billion. During the same quarter in the prior year, the company posted $9.32 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. On average, analysts predict that Apple will post $39.17 earnings per share for the current fiscal year.
Apple Inc (NASDAQ:AAPL) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications.