Fatpipe Inc/UT (NASDAQ:FATN) Now Covered by Roth Capital

Key Points

• Roth Capital initiated coverage of Fatpipe Inc/UT with a “buy” rating and an $8.00 price target, implying 42.6% upside from the stock’s $5.61 opening price.
• Analyst sentiment is generally positive: three analysts rate the stock a Buy and one rates it a Sell, producing a consensus “Moderate Buy” rating and an average target price of $9.33.
• Fatpipe exceeded quarterly earnings expectations, reporting $0.09 in EPS versus the $0.07 consensus estimate on $5.03 million in revenue; several institutional investors, including BlackRock and Renaissance Technologies, recently initiated positions.

Equities researchers at Roth Capital initiated coverage on shares of Fatpipe Inc/UT (NASDAQ:FATN - Get Free Report) in a note issued to investors on Thursday, Briefing.com reports. The brokerage set a "buy" rating and a $8.00 price target on the stock. Roth Capital's price objective would suggest a potential upside of 42.60% from the company's current price.

Other research analysts have also recently issued research reports about the company. Wall Street Zen raised Fatpipe Inc/UT from a "hold" rating to a "buy" rating in a research note on Sunday, August 9th. Weiss Ratings reiterated a "sell (d)" rating on shares of Fatpipe Inc/UT in a research report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $9.33.

Fatpipe Inc/UT Price Performance

Shares of NASDAQ:FATN opened at $5.61 on Thursday. The stock has a market cap of $79.27 million, a price-to-earnings ratio of 14.38 and a beta of 2.78. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.98 and a quick ratio of 3.79. Fatpipe Inc/UT has a 12 month low of $1.31 and a 12 month high of $10.77. The stock's 50 day moving average price is $5.73 and its 200 day moving average price is $4.28.

Fatpipe Inc/UT (NASDAQ:FATN - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.02. Fatpipe Inc/UT had a return on equity of 28.42% and a net margin of 26.87%.The firm had revenue of $5.03 million during the quarter. Equities research analysts anticipate that Fatpipe Inc/UT will post 0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new stake in shares of Fatpipe Inc/UT during the 4th quarter worth $51,000. Allworth Financial LP purchased a new stake in shares of Fatpipe Inc/UT during the second quarter valued at $162,000. BlackRock Inc. purchased a new stake in shares of Fatpipe Inc/UT during the second quarter valued at $170,000. Finally, Grandeur Peak Global Advisors LLC acquired a new position in shares of Fatpipe Inc/UT in the 2nd quarter valued at $277,000.

Fatpipe Inc/UT Company Profile

FatPipe is a pioneer in enterprise-class, application-aware, secure software-defined wide area network (“SD-WAN”) solutions for organizations, including enterprises, communication service providers, security service providers, government organizations, and middle-market companies. Organizations, large and small, have become increasingly dependent on their information technology (“IT”) network infrastructure for data access and communications, and the critical importance of network reliability, extensibility, and durability has continued to grow as the volume of traffic across those networks expands.

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