Apple (AAPL) Received its Third Buy in a Row

After Wedbush and J.P. Morgan gave Apple (NASDAQ: AAPL) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Laura Martin assigned a Buy rating to Apple today and set a price target of $170.00. The company’s shares closed last Wednesday at $127.90.

According to TipRanks.com, Martin is a top 100 analyst with an average return of 31.0% and a 66.8% success rate. Martin covers the Services sector, focusing on stocks such as Peloton Interactive, World Wrestling, and CuriosityStream.

Currently, the analyst consensus on Apple is a Moderate Buy with an average price target of $151.67, implying a 20.5% upside from current levels. In a report issued on March 26, Cowen & Co. also reiterated a Buy rating on the stock.

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Apple’s market cap is currently $2217.4B and has a P/E ratio of 35.10. The company has a Price to Book ratio of 27.34.

Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AAPL in relation to earlier this year. Most recently, in February 2021, Arthur Levinson, a Director at AAPL sold 3,416 shares for a total of $463,210.

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.