EQPT (NASDAQ:EQPT) Given New $32.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo cut its price target for EQPT to $32 (from $35) but kept an "overweight" rating, signaling about a 57.6% upside from the stock's current level.
• Analyst sentiment is moderately bullish: six Buys and four Holds produce a consensus target of $40.13, with individual targets ranging as high as the mid-$50s (e.g., Baird $55, Goldman $51).
• Stock and company fundamentals: EQPT traded around $20.30 (down ~0.4%) and remains well below analyst targets, though it recently beat quarterly estimates with EPS $0.24 versus $0.19 and revenue $1.57B versus $1.54B.

EQPT (NASDAQ:EQPT - Get Free Report) had its price target reduced by equities research analysts at Wells Fargo & Company from $35.00 to $32.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price target points to a potential upside of 57.60% from the company's current price.

Several other equities research analysts also recently issued reports on the stock. Zacks Research upgraded shares of EQPT to a "hold" rating in a research note on Wednesday, February 18th. UBS Group initiated coverage on shares of EQPT in a research note on Tuesday, February 17th. They issued a "neutral" rating and a $36.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of EQPT in a research note on Tuesday, February 17th. They issued a "buy" rating and a $51.00 price objective on the stock. Citizens Jmp initiated coverage on shares of EQPT in a research note on Tuesday, February 17th. They issued a "market outperform" rating and a $42.00 price objective on the stock. Finally, Robert W. Baird lowered their price objective on shares of EQPT from $63.00 to $55.00 and set an "outperform" rating on the stock in a research note on Friday, March 20th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, EQPT has an average rating of "Moderate Buy" and a consensus target price of $40.13.

EQPT Stock Down 0.4%

EQPT stock traded down $0.08 during midday trading on Monday, hitting $20.30. 79,736 shares of the company traded hands, compared to its average volume of 1,484,623. EQPT has a twelve month low of $18.80 and a twelve month high of $35.50. The firm's 50 day simple moving average is $26.73.

EQPT (NASDAQ:EQPT - Get Free Report) last announced its quarterly earnings data on Wednesday, March 18th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.54 billion.

EQPT Company Profile

EquipmentShare.com Inc provides integrated, full-service construction solutions across equipment rental, sales and technology. EquipmentShare.com Inc is based in Columbia, Missouri.

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