Bank of America Forecasts Strong Price Appreciation for Flex (NASDAQ:FLEX) Stock

Key Points

• Bank of America raised its price target for Flex (NASDAQ:FLEX) from $58.00 to $65.00, indicating a potential upside of 13.54% from its current stock price.
• Flex recently reported earnings of $0.72 EPS for the latest quarter, exceeding analysts' estimates and demonstrating a 4.1% revenue increase year-over-year.
• The consensus rating for Flex among analysts is currently a "Moderate Buy" with a target price averaging around $58.29.

Flex (NASDAQ:FLEX - Get Free Report) had its price objective upped by equities researchers at Bank of America from $58.00 to $65.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. Bank of America's target price would indicate a potential upside of 13.54% from the company's current price.

Several other analysts have also recently issued reports on the company. Barclays increased their price objective on Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Wall Street Zen upgraded Flex from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 26th. KGI Securities cut Flex from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. KeyCorp increased their target price on Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Wednesday, July 2nd. Finally, The Goldman Sachs Group set a $66.00 price objective on Flex in a report on Monday, September 29th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.29.

Flex Price Performance

NASDAQ FLEX opened at $57.25 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.36 and a quick ratio of 0.83. The stock's fifty day moving average price is $54.16 and its 200 day moving average price is $45.81. Flex has a 1 year low of $25.11 and a 1 year high of $59.76. The company has a market cap of $21.49 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 1.95 and a beta of 1.15.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The technology company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.09. The company had revenue of $6.58 billion for the quarter, compared to analysts' expectations of $6.27 billion. Flex had a return on equity of 20.25% and a net margin of 3.42%.The firm's revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. Flex has set its FY 2026 guidance at 2.860-3.060 EPS. Q2 2026 guidance at 0.700-0.780 EPS. As a group, equities research analysts forecast that Flex will post 2.33 earnings per share for the current year.

Insider Activity

In other Flex news, COO Kwang Hooi Tan sold 12,500 shares of Flex stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $50.25, for a total value of $628,125.00. Following the completion of the sale, the chief operating officer directly owned 263,636 shares of the company's stock, valued at approximately $13,247,709. The trade was a 4.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael P. Hartung sold 45,000 shares of Flex stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $57.14, for a total transaction of $2,571,300.00. Following the completion of the sale, the insider directly owned 256,198 shares of the company's stock, valued at $14,639,153.72. The trade was a 14.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,020 shares of company stock worth $4,923,667. 0.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Flex

A number of institutional investors have recently modified their holdings of the stock. Jump Financial LLC bought a new position in shares of Flex in the first quarter valued at approximately $2,882,000. Sowell Financial Services LLC purchased a new stake in Flex in the 1st quarter worth approximately $246,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Flex by 7,157.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,016 shares of the technology company's stock worth $2,290,000 after purchasing an additional 68,065 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Flex by 7.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 107,713 shares of the technology company's stock worth $3,563,000 after purchasing an additional 7,637 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its stake in Flex by 20.9% in the 1st quarter. DAVENPORT & Co LLC now owns 6,930 shares of the technology company's stock valued at $229,000 after buying an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.

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