Fatpipe Inc/UT (NASDAQ:FATN) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen downgraded Fatpipe Inc/UT from “Buy” to “Hold,” bringing the overall analyst consensus to “Hold” with an average price target of $10.00.
• Fatpipe reported quarterly EPS of $0.09, exceeding the $0.07 analyst consensus, on revenue of $5.03 million. Analysts expect the company to earn approximately $0.40 per share for the current year.
• FATN shares opened at $6.08, compared with a 52-week range of $1.31 to $10.77; the company has an $85.24 million market capitalization and limited debt, with a debt-to-equity ratio of 0.17.

Fatpipe Inc/UT (NASDAQ:FATN - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

A number of other research firms have also recently issued reports on FATN. Northland Securities started coverage on Fatpipe Inc/UT in a report on Monday, May 11th. They set an "outperform" rating and a $12.00 price objective for the company. Weiss Ratings upgraded Fatpipe Inc/UT from a "sell (d-)" rating to a "sell (d)" rating in a research note on Friday, May 8th. Finally, D. Boral Capital reiterated a "buy" rating and set a $8.00 target price on shares of Fatpipe Inc/UT in a research report on Friday, May 1st. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $10.00.

Fatpipe Inc/UT Price Performance

Shares of NASDAQ FATN opened at $6.08 on Friday. Fatpipe Inc/UT has a 1 year low of $1.31 and a 1 year high of $10.77. The stock has a 50-day moving average price of $5.62. The company has a market capitalization of $85.24 million, a P/E ratio of 15.59 and a beta of 2.77. The company has a current ratio of 3.85, a quick ratio of 3.75 and a debt-to-equity ratio of 0.17.

Fatpipe Inc/UT (NASDAQ:FATN - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.02. Fatpipe Inc/UT had a return on equity of 29.83% and a net margin of 26.87%.The firm had revenue of $5.03 million for the quarter. As a group, equities research analysts expect that Fatpipe Inc/UT will post 0.4 EPS for the current year.

Institutional Trading of Fatpipe Inc/UT

An institutional investor recently bought a new position in Fatpipe Inc/UT stock. Renaissance Technologies LLC acquired a new position in Fatpipe Inc/UT (NASDAQ:FATN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 25,300 shares of the company's stock, valued at approximately $51,000. Renaissance Technologies LLC owned approximately 0.18% of Fatpipe Inc/UT as of its most recent SEC filing.

Fatpipe Inc/UT Company Profile

FatPipe is a pioneer in enterprise-class, application-aware, secure software-defined wide area network (“SD-WAN”) solutions for organizations, including enterprises, communication service providers, security service providers, government organizations, and middle-market companies. Organizations, large and small, have become increasingly dependent on their information technology (“IT”) network infrastructure for data access and communications, and the critical importance of network reliability, extensibility, and durability has continued to grow as the volume of traffic across those networks expands.

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