Why Netgear, Inc. Stock Popped Today
Shares of Netgear Inc. (NASDAQ: NTGR) were up 13.2% as of 3:30 p.m. EDT Thursday, after the networking hardware company announced better-than-expected second-quarter 2017 results.
Quarterly revenue climbed 6.1% year over year to $330.7 million, led by broad-based strength across Netgear's Arlo, Orbi, and Nighthawk product lines. On the bottom line, that translated to adjusted net income of $19.9 million, or $0.60 per diluted share, down from $24.1 million, or $0.72 per share in the same year-ago period. By comparison, Netgear's guidance provided last quarter called for lower revenue of $315 million to $330 million, and investors were only anticipating adjusted earnings of $0.54 per share.
IMAGE SOURCE: NETGEAR.
Source: Fool.com
Netgear Inc. Stock
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1.920%
Currently there is a rather positive sentiment for Netgear Inc. with 3 Buy predictions and 1 Sell predictions.
With a target price of 31 € there is a positive potential of 46.23% for Netgear Inc. compared to the current price of 21.2 €.
