Shares of Clearfield (NASDAQ: CLFD) surged more than 25% after it reported earnings for its fourth quarter of Fiscal Year 2022. Adjusted earnings per share came in at $1.22, which beat analysts’ consensus estimate of $0.86 per share.
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Sales increased by 110.2% year-over-year, with revenue hitting $95 million. This beat analysts’ target by more than $23 million. Looking forward, management now expects revenue for Fiscal Year 2023 to be in the range of $380 million to $393 million. For reference, analysts were expecting $299.48 million.
Is CLFD Stock a Buy or Sell?
CLFD stock has a Strong Buy consensus rating based on three Buys, one Hold, and zero Sells assigned in the past three months. The average CLFD stock price target of $130 implies almost 12% upside potential.
