In a report released today, Ryan Koontz from Needham maintained a Buy rating on Viavi Solutions, with a price target of $20.00.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Ryan Koontz has given his Buy rating due to a combination of factors, primarily focusing on Viavi Solutions’ significant involvement in the optical and data center sectors. These areas are expected to constitute a substantial portion of the company’s revenue, with projections indicating double-digit year-over-year growth.
Furthermore, the remaining segments of the business are anticipated to grow at a low to mid-single-digit rate, suggesting a potential overall revenue increase beyond the current estimate of 6% organic growth. Koontz appreciates the risk-reward balance of the stock, which supports his optimistic outlook and Buy rating.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VIAV in relation to earlier this year.