In a report released today, Jonathan Dorsheimer from Canaccord Genuity maintained a Buy rating on nLIGHT (LASR – Research Report), with a price target of $27.00. The company’s shares closed last Thursday at $25.23, close to its 52-week high of $26.48.
According to TipRanks.com, Dorsheimer is a 4-star analyst with an average return of 9.8% and a 48.7% success rate. Dorsheimer covers the Technology sector, focusing on stocks such as Stmicroelectronics, IPG Photonics, and Plug Power.
Currently, the analyst consensus on nLIGHT is a Moderate Buy with an average price target of $27.00.
Based on nLIGHT’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $52.14 million and GAAP net loss of $6.83 million. In comparison, last year the company earned revenue of $48.05 million and had a GAAP net loss of $155K.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LASR in relation to earlier this year.
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nLIGHT, Inc. develops and manufactures semiconductor and fiber lasers components. Its products include semiconductor lasers, fiber lasers and optical fibers. The company was founded by Scott H. Keeney, Mark DeVito and Jason Farmer in 2000 and is headquartered in Vancouver, WA.