Velodyne Lidar (NASDAQ:VLDR) Price Target Cut to $15.00 by Analysts at Needham & Company LLC

Velodyne Lidar (NASDAQ:VLDR) had its price objective lowered by Needham & Company LLC from $20.00 to $15.00 in a research report report published on Tuesday, The Fly reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently commented on the stock. Benchmark began coverage on shares of Velodyne Lidar in a research note on Thursday, January 14th. They issued a buy rating and a $32.00 price target for the company. Zacks Investment Research raised shares of Velodyne Lidar from a sell rating to a hold rating in a research report on Wednesday, April 28th. Craig Hallum lowered shares of Velodyne Lidar from a buy rating to a hold rating and set a $13.00 price objective on the stock. in a research report on Tuesday, March 30th. Berenberg Bank reissued a hold rating and issued a $16.00 price objective on shares of Velodyne Lidar in a research report on Thursday, March 18th. Finally, The Goldman Sachs Group initiated coverage on shares of Velodyne Lidar in a research report on Monday, April 26th. They issued a neutral rating and a $13.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $22.22.

Shares of VLDR stock opened at $9.68 on Tuesday. The company has a fifty day moving average price of $12.93 and a two-hundred day moving average price of $17.19. Velodyne Lidar has a one year low of $8.97 and a one year high of $32.50.

Velodyne Lidar (NASDAQ:VLDR) last announced its quarterly earnings results on Monday, May 10th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). The business had revenue of $17.70 million for the quarter, compared to analysts’ expectations of $14.90 million. Velodyne Lidar’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.19) EPS. As a group, equities research analysts predict that Velodyne Lidar will post -1.49 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. TCI Wealth Advisors Inc. bought a new position in Velodyne Lidar during the fourth quarter worth about $26,000. AdvisorNet Financial Inc bought a new position in Velodyne Lidar during the fourth quarter worth about $34,000. Inspire Advisors LLC bought a new position in Velodyne Lidar during the fourth quarter worth about $34,000. JPMorgan Chase & Co. acquired a new stake in Velodyne Lidar during the fourth quarter worth about $35,000. Finally, Sowell Financial Services LLC acquired a new stake in Velodyne Lidar during the fourth quarter worth about $44,000. 6.98% of the stock is currently owned by institutional investors and hedge funds.

Velodyne Lidar Company Profile

Velodyne Lidar, Inc provides real-time three-dimensional vision for autonomous systems worldwide. It offers a broad lineup of surround-view lidar to support numerous end applications, including autonomous vehicles, drones, security, and mapping; and solid state lidar technology that combine the high reliability and long lifetime of traditional micro electro-mechanical systems solutions.

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The Fly

Analyst Recommendations for Velodyne Lidar (NASDAQ:VLDR)

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