Canaccord Genuity Remains a Hold on Exfo (EXFO)

By Austin Angelo

Canaccord Genuity analyst Robert Young maintained a Hold rating on Exfo (EXFOResearch Report) today and set a price target of $4.00. The company’s shares closed last Wednesday at $4.39, close to its 52-week high of $4.69.

According to TipRanks.com, Young is a 5-star analyst with an average return of 34.5% and a 69.8% success rate. Young covers the Technology sector, focusing on stocks such as Quisitive Technology Solutions, Enthusiast Gaming Holdings, and CGI Group.

Currently, the analyst consensus on Exfo is a Hold with an average price target of $3.72, representing a -15.5% downside. In a report released today, National Bank also maintained a Hold rating on the stock with a $4.50 price target.

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Based on Exfo’s latest earnings release for the quarter ending November 30, the company reported a quarterly revenue of $71.51 million and net profit of $3.55 million. In comparison, last year the company earned revenue of $73.55 million and had a GAAP net loss of $63K.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EXFO in relation to earlier this year.

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EXFO, Inc. engages in the provision of test, monitoring, and analytics solutions for fixed and mobile communications service providers, webscale companies and equipment manufacturers. It offers field network testing, optical benchtop kits, tunable filters, network simulation and load testing, and switch and utility module. The company was founded by Germain Lamonde on September 18, 1985 and is headquartered in Quebec, Canada.