Macquarie lowered shares of Casa Systems (NASDAQ:CASA) from an outperform rating to a neutral rating in a research note published on Wednesday, MarketBeat.com reports. They currently have $24.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. Northland Securities set a $25.00 price objective on Casa Systems and gave the company a buy rating in a report on Thursday, July 12th. Stifel Nicolaus lifted their price objective on Casa Systems from $27.00 to $31.00 and gave the company a buy rating in a report on Friday, April 27th. Loop Capital started coverage on Casa Systems in a report on Wednesday, July 25th. They set a hold rating and a $16.00 price objective on the stock. Zacks Investment Research cut Casa Systems from a buy rating to a hold rating in a report on Tuesday, May 8th. Finally, Morgan Stanley upgraded Casa Systems from an equal weight rating to an overweight rating and set a $23.00 price objective on the stock in a report on Tuesday, July 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Casa Systems currently has a consensus rating of Buy and a consensus price target of $22.88.

NASDAQ:CASA opened at $12.48 on Wednesday. Casa Systems has a fifty-two week low of $11.26 and a fifty-two week high of $34.21. The company has a current ratio of 5.29, a quick ratio of 4.93 and a debt-to-equity ratio of 4.11. The stock has a market cap of $1.29 billion and a PE ratio of 15.80.

Casa Systems (NASDAQ:CASA) last released its quarterly earnings data on Tuesday, August 14th. The company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The business had revenue of $68.70 million for the quarter, compared to the consensus estimate of $90.64 million. The company’s revenue was up 3.2% on a year-over-year basis. equities analysts expect that Casa Systems will post 1.02 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Casa Systems in the 1st quarter valued at approximately $42,491,000. Overbrook Management Corp raised its position in Casa Systems by 898.8% in the 2nd quarter. Overbrook Management Corp now owns 1,428,166 shares of the company’s stock valued at $23,322,000 after buying an additional 1,285,176 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Casa Systems in the 2nd quarter valued at approximately $15,563,000. Gilder Gagnon Howe & Co. LLC raised its position in Casa Systems by 2,712.2% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 634,207 shares of the company’s stock valued at $10,357,000 after buying an additional 611,655 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in Casa Systems in the 2nd quarter valued at approximately $8,329,000. 49.67% of the stock is currently owned by institutional investors and hedge funds.

About Casa Systems

Casa Systems, Inc provides software-centric broadband products in North America, Latin America, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers software-centric infrastructure solutions that allow cable service providers to deliver voice, video, and data services over a single platform at multi-gigabit speeds.

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Analyst Recommendations for Casa Systems (NASDAQ:CASA)

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