Raymond James Downgrades Sierra Wireless (USA) to Market Perform with Price Target $30

Brokerage firm Raymond James Downgrades its rating on Sierra Wireless (USA)(SWIR). As per the latest information, Raymond James Raises the price target to $30 per share from a prior target of $23.5. The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by the stock financial advisor at Raymond James was issued on Mar 27, 2017 in a research report to their Investors and Clients.

In a different note, On Feb 10, 2017, First Analysis said it Upgrades its rating on Sierra Wireless (USA). The shares have been rated ‘Overweight’ by the firm. On Jan 23, 2017, Raymond James said it Upgrades its rating on Sierra Wireless (USA). The shares have been rated ‘Outperform’ by the firm.

Sierra Wireless (USA) (SWIR) shares turned negative on Fridays trading session with the shares closing down -0.35 points or -1.16% at a volume of 4,99,566. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $30.564. The peak price level was also seen at $30.564 while the days lowest was $29.3. Finally the shares closed at $29.7. The 52-week high of the shares is $30.6 while the 52-week low is $12.297. According to the latest information available, the market cap of the company is $946 M.

Sierra Wireless (USA)(SWIR) last announced its earnings results on Feb 9, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $163.021M. Analysts had an estimated revenue of $161.060M. Earnings per share were $0.27. Analysts had estimated an EPS of $0.16.

Sierra Wireless Inc. is a provider of cellular wireless solutions to the machine-to-machine (M2M) and connected device markets. The Company develops and markets a range of wireless products that include embedded modules and embedded software for original equipment manufacturers (OEMs) gateways and routers for industrial commercial and public safety applications and a cloud-based platform for delivering device management and enabling end-to-end applications. The company’s products services and solutions connect people their mobile computers and machines to wireless voice and data networks around the world. The Company operates through two segments: OEM Solutions which includes AirPrime embedded wireless modules (including embedded wireless modules for PC OEM customers) and Enterprise Solutions which includes Airlink Intelligent Gateways AirVantage M2M Cloud and InMotion Solutions.

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