In a report released yesterday, Peter Saleh from BTIG reiterated a Buy rating on Starbucks (SBUX – Research Report), with a price target of $130.00. The company’s shares closed last Wednesday at $112.40, close to its 52-week high of $118.98.
According to TipRanks.com, Saleh is a 5-star analyst with an average return of 26.0% and a 78.9% success rate. Saleh covers the Services sector, focusing on stocks such as Texas Roadhouse, Kura Sushi USA, and Drive Shack.
Starbucks has an analyst consensus of Moderate Buy, with a price target consensus of $125.09, representing a 10.3% upside. In a report issued on April 13, Argus Research also maintained a Buy rating on the stock with a $132.00 price target.
Based on Starbucks’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $6.75 billion and net profit of $622 million. In comparison, last year the company earned revenue of $7.1 billion and had a net profit of $886 million.
Based on the recent corporate insider activity of 61 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 SBUX in relation to earlier this year.
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Founded in 1985, Starbucks Corp. is a Washington-based roaster and retailer of specialty coffee, with over 30,000 stores in 80 markets. It operates through three segments, including Americas, International and Channel Development. Starbucks stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, food items such as pastries, sandwiches, salads, oatmeals, as well as a variety of merchandise. The company’s leading brands include Evolution Fresh, Teavana, Tazo Tea and Seattle’s Best.