Avaya Holdings (AVYA) Gets a Buy Rating from Northland Securities

By Jason Carr

In a report released today, Michael Latimore from Northland Securities maintained a Buy rating on Avaya Holdings (AVYAResearch Report), with a price target of $17.00. The company’s shares closed last Monday at $11.48, close to its 52-week low of $9.72.

According to TipRanks.com, Latimore is a 4-star analyst with an average return of 6.0% and a 50.4% success rate. Latimore covers the Technology sector, focusing on stocks such as Super League Gaming, The Meet Group, and RingCentral.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Avaya Holdings with a $18.80 average price target, representing a 55.8% upside. In a report issued on November 19, Guggenheim also reiterated a Buy rating on the stock with a $20.00 price target.

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Based on Avaya Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $723 million and GAAP net loss of $34 million. In comparison, last year the company earned revenue of $735 million and had a net profit of $268 million.

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Avaya Holdings Corp. is a global business communications company, which engages in the provision of business collaboration and communication solutions. It operates through the Global Communications Solutions (GCS) and Avaya Global Services (AGS) segments. The GCS segment develops, markets, and sells contact center and unified communications products.