Oppenheimer Sticks to Their Hold Rating for Verizon (VZ)

In a report released today, Timothy Horan from Oppenheimer maintained a Hold rating on Verizon (VZResearch Report). The company’s shares closed last Tuesday at $56.38.

According to TipRanks.com, Horan is a 5-star analyst with an average return of 16.7% and a 69.1% success rate. Horan covers the Technology sector, focusing on stocks such as Rackspace Technology, Lumen Technologies, and Vonage Holdings.

Currently, the analyst consensus on Verizon is a Moderate Buy with an average price target of $61.60, implying an 8.5% upside from current levels. In a report issued on May 24, HSBC also maintained a Hold rating on the stock with a $62.00 price target.

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Based on Verizon’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $32.87 billion and net profit of $5.25 billion. In comparison, last year the company earned revenue of $31.61 billion and had a net profit of $4.16 billion.

Based on the recent corporate insider activity of 88 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 VZ in relation to earlier this year.

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.

Verizon Communications, Inc. provides wireless and wireline communications services and products through its two segments: Verizon Consumer Group and Verizon Business Group. The Verizon Business segment also offers video and data services, corporate networking solutions, security and managed network services, local and long distance voice services and network access to deliver various Internet of Things (IoT) services and products. The company was founded in 1983 and is headquartered in New York, NY.