Corero Network Security (LON:CNS) Given New GBX 20 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity raised its target for Corero from GBX 19 to GBX 20 and retains a "buy" rating, implying a potential upside of 62.60% from the previous close.
• Insider buying: director Carl Herberger purchased 138,000 shares at GBX 13 on Feb 3, and insiders collectively own about 39.67% of the company.
• Market action and metrics: shares opened at GBX 12.30 (up ~7%), market cap ~£63m, negative P/E (-41) and a 52-week range of GBX 8.50–18.50, reflecting a small-cap, currently loss-making cybersecurity firm with analyst-rated upside.

Corero Network Security (LON:CNS - Get Free Report) had its target price upped by analysts at Canaccord Genuity Group from GBX 19 to GBX 20 in a research report issued to clients and investors on Tuesday,Digital Look reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's target price indicates a potential upside of 62.60% from the stock's previous close.

Corero Network Security Trading Up 7.0%

Shares of LON CNS opened at GBX 12.30 on Tuesday. The firm has a 50 day moving average price of GBX 12.54 and a two-hundred day moving average price of GBX 10.80. The stock has a market cap of £63.00 million, a P/E ratio of -41.00 and a beta of 0.46. Corero Network Security has a 52-week low of GBX 8.50 and a 52-week high of GBX 18.50. The company has a debt-to-equity ratio of 3.14, a quick ratio of 1.20 and a current ratio of 1.28.

Insiders Place Their Bets

In related news, insider Carl Herberger bought 138,000 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was acquired at an average cost of GBX 13 per share, with a total value of £17,940. 39.67% of the stock is owned by insiders.

Corero Network Security Company Profile

Corero Network Security plc is a global leader in real-time, high-performance, automatic DDoS cyber defense solutions. Both Service and Hosting providers, alongside digital enterprises across the globe rely on Corero's award winning cybersecurity technology to eliminate the threat of Distributed Denial of Service (DDoS) to their digital environment through automatic attack detection and mitigation, coupled with network visibility, analytics and reporting. Corero's industry leading SmartWall and SecureWatch technology provides scalable protection capabilities against external DDoS attackers and internal DDoS botnets in the most complex edge and subscriber environments, while enabling a more cost-effective economic model than previously available.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.