Lumen Technologies (NYSE:LUMN) Stock Price Target Cut by The Goldman Sachs Group

Key Points

• Goldman Sachs cut its Lumen price target from $7.25 to $5.00 and maintained a neutral rating; the new target implies 26.97% upside from the prior close.
• Lumen shares fell 11.9% to $3.94 on Thursday, near their 12-month low. Analysts’ average price target is $6.78, with the overall consensus rating at “Reduce.”
• Quarterly adjusted loss of $0.14 per share was better than expected, but revenue of $2.71 billion missed estimates and declined year over year; negative free cash flow also raised concerns.

Lumen Technologies (NYSE:LUMN - Get Free Report) had its price objective decreased by stock analysts at The Goldman Sachs Group from $7.25 to $5.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a "neutral" rating on the technology company's stock. The Goldman Sachs Group's price target would suggest a potential upside of 26.97% from the company's previous close.

A number of other brokerages have also recently issued reports on LUMN. Wall Street Zen raised shares of Lumen Technologies from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. Moffett Nathanson upgraded Lumen Technologies from a "sell" rating to a "neutral" rating and set a $4.00 price target for the company in a research report on Friday, October 30th. Citigroup decreased their price objective on Lumen Technologies from $10.00 to $8.25 and set a "neutral" rating on the stock in a research note on Tuesday, August 11th. Wells Fargo & Company cut their target price on Lumen Technologies from $7.50 to $5.00 and set an "equal weight" rating for the company in a research note on Thursday. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lumen Technologies in a report on Friday, July 17th. Ten research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $6.78.

Lumen Technologies Stock Down 11.9%

Lumen Technologies stock traded down $0.53 during midday trading on Thursday, reaching $3.94. The stock had a trading volume of 13,968,148 shares, compared to its average volume of 13,676,770. The firm has a market capitalization of $4.06 billion, a PE ratio of -3.83 and a beta of 1.94. Lumen Technologies has a 12 month low of $3.84 and a 12 month high of $11.43. The firm's 50-day moving average price is $5.66 and its 200 day moving average price is $7.19.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its earnings results on Wednesday, November 4th. The technology company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.23) by $0.09. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.73 billion. Equities research analysts expect that Lumen Technologies will post -0.54 EPS for the current year.

Hedge Funds Weigh In On Lumen Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of LUMN. Legal & General Group Plc bought a new stake in shares of Lumen Technologies during the 2nd quarter valued at $18,541,000. Hsbc Holdings PLC increased its stake in shares of Lumen Technologies by 10.5% in the 2nd quarter. Hsbc Holdings PLC now owns 9,685,625 shares of the technology company's stock worth $74,242,000 after acquiring an additional 919,605 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Lumen Technologies during the 2nd quarter valued at about $2,513,000. The Manufacturers Life Insurance Company purchased a new position in Lumen Technologies during the 2nd quarter valued at about $3,980,000. Finally, Congress Asset Management Co. boosted its stake in Lumen Technologies by 21.3% during the third quarter. Congress Asset Management Co. now owns 1,191,427 shares of the technology company's stock worth $6,672,000 after acquiring an additional 209,416 shares in the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Key Lumen Technologies News

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.

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