Infinera Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Author: Avi Kapoor | March 06, 2024 03:36pm

Infinera Corporation (NASDAQ:INFN) is expected to release its preliminary, unaudited financial results for the fourth quarter, after the closing bell on March 6, 2024.

Analysts expect the San Jose, California-based company to report quarterly earnings at 9 cents share, down from 16 cents per share in the year-ago period. Infinera is projected to post revenue of $437.34 million for the latest quarter, compared to $485.94 million in the year-earlier quarter, according to data from Benzinga Pro.

Infinera shares fell 4.1% to close at $5.15 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Stifel analyst Ruben Roy initiated coverage on the stock with a Buy rating and a price target of $7 on Sept. 28, 2023. This analyst has an accuracy rate of 83%.
• Rosenblatt analyst Mike Genovese reiterated a Buy rating with a price target of $6 on Aug. 25, 2023. This analyst has an accuracy rate of 63%.
• Jefferies analyst George Notter upgraded the stock from Underperform to Hold on Aug. 11, 2023. This analyst has an accuracy rate of 73%.
• Morgan Stanley analyst Meta Marshall maintained an Equal-Weight rating and cut the price target from $5 to $4.6 on Aug. 10, 2023. This analyst has an accuracy rate of 72%.
• Needham analyst Alex Henderson maintained a Strong Buy rating and slashed the price target from $15 to $10 on Aug. 10, 2023. This analyst has an accuracy rate of 81%.

 

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Posted In: INFN