Casa Systems (CASA) Downgraded by Macquarie

Casa Systems (NASDAQ:CASA) was downgraded by equities research analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research note issued on Wednesday, The Fly reports.

A number of other research firms have also weighed in on CASA. Zacks Investment Research raised shares of Casa Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, July 11th. Morgan Stanley raised shares of Casa Systems from an “equal weight” rating to an “overweight” rating and set a $23.00 price objective on the stock in a research note on Tuesday, July 10th. Northland Securities set a $25.00 price objective on shares of Casa Systems and gave the company a “buy” rating in a research note on Thursday, July 12th. Loop Capital began coverage on shares of Casa Systems in a research report on Wednesday, July 25th. They set a “hold” rating and a $16.00 price target on the stock. Finally, Stifel Nicolaus raised their price target on shares of Casa Systems from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, April 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $25.00.

Casa Systems stock opened at $15.60 on Wednesday. Casa Systems has a 1-year low of $13.25 and a 1-year high of $34.21. The firm has a market capitalization of $1.29 billion and a price-to-earnings ratio of 19.75. The company has a debt-to-equity ratio of 4.11, a quick ratio of 4.93 and a current ratio of 5.29.



Casa Systems (NASDAQ:CASA) last released its quarterly earnings data on Tuesday, August 14th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $68.70 million during the quarter, compared to the consensus estimate of $90.64 million. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. equities research analysts predict that Casa Systems will post 1.02 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CASA. BlackRock Inc. bought a new position in shares of Casa Systems during the first quarter valued at about $42,491,000. Overbrook Management Corp lifted its position in shares of Casa Systems by 898.8% during the second quarter. Overbrook Management Corp now owns 1,428,166 shares of the company’s stock valued at $23,322,000 after purchasing an additional 1,285,176 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Casa Systems during the second quarter valued at about $15,563,000. Gilder Gagnon Howe & Co. LLC lifted its position in shares of Casa Systems by 2,712.2% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 634,207 shares of the company’s stock valued at $10,357,000 after purchasing an additional 611,655 shares in the last quarter. Finally, Millennium Management LLC bought a new position in shares of Casa Systems during the second quarter valued at about $8,329,000. 49.67% of the stock is currently owned by institutional investors.

Casa Systems Company Profile

Casa Systems, Inc provides software-centric broadband products in North America, Latin America, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers software-centric infrastructure solutions that allow cable service providers to deliver voice, video, and data services over a single platform at multi-gigabit speeds.

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