Investment analysts at Oppenheimer upped their price objective on shares of Starbucks Corp. (NASDAQ: SBUX) from $65.00 to $75.00 in a note issued to investors on Wednesday, AnalystRatingsNetwork.com reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 7.88% from the company’s current price.
Starbucks Corp. (NASDAQ: SBUX) opened at 69.52 on Wednesday. Starbucks Corp. has a 52-week low of $43.04 and a 52-week high of $69.90. The stock’s 50-day moving average is currently $65.86. The company has a market cap of $52.050 billion and a price-to-earnings ratio of 35.33.
Starbucks Corp. (NASDAQ: SBUX) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.48 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.48. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. Analysts expect that Starbucks Corp. will post $2.18 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on SBUX. Analysts at JP Morgan Cazenove raised their price target on shares of Starbucks Corp. from $65.00 to $72.00 in a research note to investors on Tuesday. Separately, analysts at Stifel Nicolaus initiated coverage on shares of Starbucks Corp. in a research note to investors on Tuesday. They set a “hold” rating on the stock. Finally, analysts at BMO Capital Markets reiterated an “outperform” rating on shares of Starbucks Corp. in a research note to investors on Friday, July 12th. They now have a $78.00 price target on the stock.
Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $67.32.
Starbucks Corporation is a roaster, marketer and retailer of coffee operating in 60 countries. The Company purchases and roasts coffees that it sells, along with handcrafted coffee, tea and other beverages and a variety of fresh food items, through Company-operated stores.