Apple (AAPL) Gets a Buy Rating from Needham

In a report released today, Laura Martin from Needham maintained a Buy rating on Apple (AAPLResearch Report), with a price target of $170.00. The company’s shares closed last Wednesday at $140.91.

According to TipRanks.com, Martin is a 5-star analyst with an average return of 25.0% and a 60.8% success rate. Martin covers the Services sector, focusing on stocks such as Chicken Soup For The Soul Entertainment, Tremor International, and World Wrestling.

Apple has an analyst consensus of Strong Buy, with a price target consensus of $169.86, representing a 20.3% upside. In a report issued on September 29, Evercore ISI also maintained a Buy rating on the stock with a $180.00 price target.

See Insiders’ Hot Stocks on TipRanks >>

Based on Apple’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $81.43 billion and net profit of $21.74 billion. In comparison, last year the company earned revenue of $59.69 billion and had a net profit of $11.25 billion.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Apple, Inc. designs, manufactures, and sells smartphones, personal computers, tablets, wearables and accessories. It also offers a range of related services. Its products include iPhone, Mac, iPad, Apple TV, Apple Watch, Beats products, HomePod and AirPods. The services segment is comprised of AppleCare, cloud services, digital content offerings like the App Store and other content services like Apple Arcade, Apple Music, Apple News+, Apple Fitness+ and Apple TV+, payment services such as Apple Card and Apple Pay as well as advertising and licensing services. The company was founded by Steven Paul Jobs, Ronald Gerald Wayne, and Stephen G. Wozniak on April 1, 1976 and is headquartered in Cupertino, CA.