Apple Inc (AAPL) Receives a Rating Update from a Top Analyst

By Jason Carr

In a report released today, Brian White from Monness maintained a Buy rating on Apple Inc (AAPLResearch Report), with a price target of $265. The company’s shares closed yesterday at $208.78.

According to TipRanks.com, White is a top 25 analyst with an average return of 27.4% and a 78.0% success rate. White covers the Technology sector, focusing on stocks such as Spotify Technology SA, Salesforce.com, and Alphabet Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Apple Inc with a $219.72 average price target, implying a 5.2% upside from current levels. In a report issued on July 18, Raymond James also upgraded the stock to Buy with a $250 price target.

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Based on Apple Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $53.81 billion and net profit of $10.04 billion. In comparison, last year the company earned revenue of $53.43 billion and had a net profit of $11.52 billion.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2019, Arthur Levinson, a Director at AAPL sold 35,000 shares for a total of $7,380,100.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.