Fatpipe Inc/UT (NASDAQ:FATN) Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Fatpipe Inc/UT from “Hold” to “Buy.” Analyst views remain mixed, with two Buy ratings and one Sell rating; MarketBeat lists a consensus “Hold” rating and a $10.00 target price.
• FATN shares opened at $6.37, with a market capitalization of approximately $90 million and a 52-week range of $1.31 to $10.77. The stock recently traded about 0.5% higher.
• Fatpipe exceeded quarterly earnings expectations, reporting $0.09 EPS versus the $0.07 consensus on $5.03 million in revenue. Renaissance Technologies also disclosed a new 25,300-share position.

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

Other equities research analysts have also issued research reports about the stock. D. Boral Capital reaffirmed a "buy" rating and set a $8.00 target price on shares of Fatpipe Inc/UT in a research note on Friday, May 1st. Weiss Ratings reissued a "sell (d)" rating on shares of Fatpipe Inc/UT in a research note on Wednesday. Finally, Northland Securities assumed coverage on shares of Fatpipe Inc/UT in a report on Monday, May 11th. They issued an "outperform" rating and a $12.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $10.00.

Fatpipe Inc/UT Trading Up 0.5%

Shares of FATN stock opened at $6.37 on Friday. The firm has a market capitalization of $90.01 million, a PE ratio of 16.33 and a beta of 2.80. Fatpipe Inc/UT has a 1-year low of $1.31 and a 1-year high of $10.77. The company has a 50-day moving average of $5.72. The company has a current ratio of 3.98, a quick ratio of 3.75 and a debt-to-equity ratio of 0.16.

Fatpipe Inc/UT (NASDAQ:FATN - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.02. The company had revenue of $5.03 million during the quarter. Fatpipe Inc/UT had a return on equity of 28.42% and a net margin of 26.87%. Sell-side analysts forecast that Fatpipe Inc/UT will post 0.41 earnings per share for the current year.

Institutional Trading of Fatpipe Inc/UT

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

About Fatpipe Inc/UT

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source