In a report released today, Joe Gomes from Noble Financial maintained a Buy rating on Comtech Telecommunications (CMTL – Research Report), with a price target of $30.00. The company’s shares closed last Tuesday at $20.17.
According to TipRanks.com, Gomes is a 4-star analyst with an average return of 8.4% and a 55.5% success rate. Gomes covers the Services sector, focusing on stocks such as Information Services Group, Kelly Services, and DLH Holdings.
Comtech Telecommunications has an analyst consensus of Moderate Buy, with a price target consensus of $23.83, representing a 24.6% upside. In a report released yesterday, Northland Securities also assigned a Buy rating to the stock with a $24.00 price target.
Based on Comtech Telecommunications’ latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $150 million and net profit of $1.13 million. In comparison, last year the company earned revenue of $176 million and had a net profit of $6.14 million.
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Comtech Telecommunications Corp. engages in the design, development, production, and market of products, systems, and services for advanced communications solutions. It operates through the Commercial Solutions and Government Solutions segment. The Commercial Solutions segment offers satellite communications, public safety systems, and enterprise application technologies for commercial customers and smaller government customers. The Government Solutions segment comprises mission-critical technologies and transmission technologies for large government end users, international customers, and domestic prime contractors. The company was founded in 1967 and is headquartered in Melville, NY.