Why Harmonic Inc. Stock Popped Today
Shares of Harmonic Inc. (NASDAQ: HLIT) were up 16.1% as of 1:30 p.m. EDT Tuesday after the video delivery infrastructure specialist announced better-than-expected third-quarter 2017 results.
More specifically, Harmonic saw adjusted (non-GAAP) quarterly revenue decline 9.9% year over year to $91.6 million, which translated to an adjusted net loss of $0.5 million, or $0.01 per diluted share. That might not sound encouraging, but last quarter Harmonic told investors to expect lower revenue of $80 million to $90 million, and a wider adjusted per-share loss in the range of $0.11 to $0.03.
IMAGE SOURCE: GETTY IMAGES.
Source: Fool.com
Harmonic Stock
€11.04
0.500%
We see a rather positive sentiment for Harmonic with 16 Buy predictions and 2 Sell predictions.
As a result the target price of 16 € shows a positive potential of 44.93% compared to the current price of 11.04 € for Harmonic.
