Lumen Technologies (NYSE:LUMN) Stock Price Target Cut by Wells Fargo & Company

Key Points

• Wells Fargo cut its Lumen price target from $7.50 to $5.00 while maintaining an Equal Weight rating; at the time, the new target implied 27.06% upside from the $3.94 share price.
• Lumen shares fell 12% to $3.94, near their 52-week low. The analyst consensus was Reduce, with a $7.06 average target.
• Quarterly adjusted loss of $0.14 per share was narrower than expected, but revenue of $2.71 billion missed estimates and declined year over year; free cash flow also turned negative.

Lumen Technologies (NYSE:LUMN - Get Free Report) had its target price lowered by research analysts at Wells Fargo & Company from $7.50 to $5.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an "equal weight" rating on the technology company's stock. Wells Fargo & Company's price target indicates a potential upside of 27.06% from the stock's current price.

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

Lumen Technologies Trading Down 12.0%

Shares of NYSE:LUMN traded down $0.54 during midday trading on Thursday, reaching $3.94. The company had a trading volume of 11,621,931 shares, compared to its average volume of 13,662,748. The stock has a market cap of $4.06 billion, a P/E ratio of -3.85 and a beta of 1.94. The company's 50 day moving average price is $5.66 and its 200 day moving average price is $7.19. Lumen Technologies has a 52-week low of $3.84 and a 52-week high of $11.43.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.23) by $0.09. The company had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.73 billion. Research analysts forecast that Lumen Technologies will post -0.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Ascentis Independent Advisors purchased a new position in shares of Lumen Technologies in the 1st quarter worth $27,000. Versant Capital Management Inc raised its position in shares of Lumen Technologies by 90.3% during the 2nd quarter. Versant Capital Management Inc now owns 3,920 shares of the technology company's stock valued at $30,000 after buying an additional 1,860 shares in the last quarter. Trust Asset Management LLC purchased a new stake in shares of Lumen Technologies during the 2nd quarter valued at about $34,000. Triumph Capital Management lifted its holdings in shares of Lumen Technologies by 2,110.2% in the 2nd quarter. Triumph Capital Management now owns 5,614 shares of the technology company's stock valued at $43,000 after acquiring an additional 5,360 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new position in shares of Lumen Technologies in the 2nd quarter valued at about $45,000. Hedge funds and other institutional investors own 66.19% of the company's stock.

More 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

About Lumen Technologies

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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