Kaleyra (NYSE:KLR) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Kaleyra (NYSE:KLR) from a hold rating to a sell rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “Kaleyra Inc. is providing mobile communication services for financial institutions and enterprises. The company manages multi-channel integrated communication services, through its proprietary platform, comprising of messages, push notifications, e-mail, instant messaging, voice services and chatbots. Kaleyra Inc., formerly known as GigCapital Inc., is based in PALO ALTO, Calif. “

Several other equities analysts have also recently issued reports on the company. Cowen dropped their price target on Kaleyra from $18.00 to $12.50 in a research report on Friday, March 20th. Craig Hallum dropped their price target on Kaleyra from $11.00 to $9.00 and set a buy rating for the company in a research report on Wednesday, May 13th. Finally, Oppenheimer assumed coverage on Kaleyra in a research report on Monday. They set an outperform rating and a $12.00 price target for the company. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company has an average rating of Buy and an average price target of $11.60.

KLR opened at $4.00 on Tuesday. The business has a 50 day simple moving average of $6.05 and a 200-day simple moving average of $7.25. The stock has a market capitalization of $78.46 million and a P/E ratio of 16.67. Kaleyra has a 12 month low of $3.80 and a 12 month high of $11.35.

Kaleyra (NYSE:KLR) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.38). The firm had revenue of $33.63 million during the quarter, compared to analyst estimates of $35.07 million. As a group, sell-side analysts expect that Kaleyra will post -0.13 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Greenhaven Road Investment Management L.P. acquired a new position in shares of Kaleyra during the first quarter worth about $5,110,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Kaleyra during the first quarter worth about $31,000. Glazer Capital LLC acquired a new position in shares of Kaleyra during the fourth quarter worth about $9,134,000. Finally, Cowen AND Company LLC acquired a new position in shares of Kaleyra during the fourth quarter worth about $5,254,000. Hedge funds and other institutional investors own 24.35% of the company’s stock.

Kaleyra Company Profile

Kaleyra, Inc is a global group providing mobile communication services for financial institutions and enterprises. The company trough its proprietary platform, it manages multi-channel integrated communication services on a global scale, comprising of messages, push notifications, e-mail, instant messaging, voice services and chatbots.

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