TipRanks analyst ranking service pinpoints Wall Street's best-performing stocks, like Shopify & General Dynamics
. In addition, he put a $90 price target on CCOI, which brings the upside potential to 16%.
When it comes to the netcentric business, it has bounced back to growth thanks to international expansion and retreating customers. What's more, according to the Oppenheimer analyst, corporate customers have been forced to close branch offices due to the pandemic. However, after peaking in the middle of the fourth quarter, churn has seen a significant improvement, with corporate purchasing activity also getting a boost.
Supporting his position on TipRanks' ranking of best-performing analysts, Horan has achieved a 67% success rate and 17.5% average return per rating.'s high valuation and concentration of revenues from Apple had previously kept Needham's Rajvindra Gill on the sidelines. That said, given that shares have taken a major fall since the middle of January and its price-earnings multiple has compressed 40%, the analyst has reconsidered his stance.
Additionally, CRUS is working to expand beyond the audio domain with its high-performance mixed-signal chips. According to Gill, the "22nm chips could translate to either more digital processing closer to the analog or a radically smaller or more power efficient chip." For Baird analyst Peter Arment, the company's long-term prospects appear to be even stronger. As "order growth has returned at Gulfstream, providing a cyclical kicker to a defense business that continues to quench budget concerns," Armentand gave the price target a lift, with the figure increasing from $180 to $243 .
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