We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Shares of Applied Optoelectronics (AAOI - Free Report) soared more than 8% on Friday after the fiber-optics company pre-announced a quarterly earnings beat and revenue beat.
AAOI management said that the company now expects non-GAAP profit in the range of $1.31 to $1.36 per share, with quarterly revenues coming in at about $117 million. This updated guidance is well above our current consensus estimates of $1.07 per share and 109.7 million, respectively.
Piper Jaffray analyst Troy Jensen, who currently rates AAOI as “overweight,” hiked his price target for the stock to $90 from $85.
“AAOI pre-released another impressive quarter with revenue upside and record margin levels that have never been seen before in the optical component industry (45% gross, roughly 30% operating),” said Jensen in a note.
The analyst’s new price target represents more than a 15% premium from Thursday’s close.
Applied Optoelectronics, which is currently a Zacks Rank #1 (Strong Buy), is benefitting from a new batch of customers looking to upgrade their datacenters. Companies like Facebook and Amazon (AMZN - Free Report) are continuing to shift towards hyper-fast communications for the cloud, and fiber-optics equipment makes like AAOI are right there to satisfy them.
Shares of AAOI have gained a staggering 575% over the past year. The stock is up about 210% year-to-date.
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Here's Why Applied Optoelectronics (AAOI) Stock Soared Today
Shares of Applied Optoelectronics (AAOI - Free Report) soared more than 8% on Friday after the fiber-optics company pre-announced a quarterly earnings beat and revenue beat.
AAOI management said that the company now expects non-GAAP profit in the range of $1.31 to $1.36 per share, with quarterly revenues coming in at about $117 million. This updated guidance is well above our current consensus estimates of $1.07 per share and 109.7 million, respectively.
Piper Jaffray analyst Troy Jensen, who currently rates AAOI as “overweight,” hiked his price target for the stock to $90 from $85.
“AAOI pre-released another impressive quarter with revenue upside and record margin levels that have never been seen before in the optical component industry (45% gross, roughly 30% operating),” said Jensen in a note.
The analyst’s new price target represents more than a 15% premium from Thursday’s close.
Applied Optoelectronics, which is currently a Zacks Rank #1 (Strong Buy), is benefitting from a new batch of customers looking to upgrade their datacenters. Companies like Facebook and Amazon (AMZN - Free Report) are continuing to shift towards hyper-fast communications for the cloud, and fiber-optics equipment makes like AAOI are right there to satisfy them.
Shares of AAOI have gained a staggering 575% over the past year. The stock is up about 210% year-to-date.
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>