EQPT (NASDAQ:EQPT) Price Target Lowered to $35.00 at Wells Fargo & Company

Key Points

• Wells Fargo cut its price target for EQPT from $41.00 to $35.00 while maintaining an overweight rating, with the new target implying roughly a 63.6% upside from the prior close.
• Consensus among analysts is a "Moderate Buy" with an average price target of $41.50, based on 6 Buy and 4 Hold ratings.
• EQPT traded at $21.39 mid-day (near its 12‑month low of $21.06) and recently beat estimates with quarterly EPS of $0.24 and revenue of $1.57B.

EQPT (NASDAQ:EQPT - Get Free Report) had its target price dropped by Wells Fargo & Company from $41.00 to $35.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price target indicates a potential upside of 63.63% from the stock's previous close.

Several other equities research analysts also recently weighed in on EQPT. Citizens Jmp began coverage on EQPT in a research report on Tuesday, February 17th. They issued a "market outperform" rating and a $42.00 target price for the company. The Goldman Sachs Group assumed coverage on EQPT in a research report on Tuesday, February 17th. They set a "buy" rating and a $51.00 price target on the stock. Zacks Research raised shares of EQPT to a "hold" rating in a research report on Wednesday, February 18th. KeyCorp initiated coverage on shares of EQPT in a research note on Tuesday, February 17th. They set a "sector weight" rating on the stock. Finally, Robert W. Baird reduced their target price on shares of EQPT from $63.00 to $55.00 and set an "outperform" rating on the stock in a research report on Friday. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $41.50.

EQPT Price Performance

Shares of EQPT stock traded down $1.35 during mid-day trading on Friday, reaching $21.39. The company's stock had a trading volume of 473,925 shares, compared to its average volume of 1,263,248. EQPT has a 12-month low of $21.06 and a 12-month high of $35.50.

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

About EQPT

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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