Megaport Limited (OTCMKTS:MGPPF – Get Free Report) shares crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $11.81 and traded as high as $12.20. Megaport shares last traded at $12.20, with a volume of 150 shares.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. New Street Research set a $25.90 price objective on Megaport in a research note on Monday, October 12th. The Goldman Sachs Group initiated coverage on Megaport in a report on Monday, October 12th. They issued a “buy” rating on the stock. One analyst has rated the stock with a Buy rating. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $25.90.
Read Our Latest Analysis on MGPPF
Megaport Trading Up 7.7%
The firm’s 50-day moving average price is $11.81 and its 200 day moving average price is $9.81.
About Megaport
Megaport Limited is an Australian network-as-a-service provider that enables businesses to establish private, on-demand connections between data centers, cloud service providers, internet exchanges and other network endpoints. The company operates through a software-defined platform designed to help organizations provision and manage connectivity without relying solely on traditional telecommunications services.
Its offerings include virtual cross-connects, cloud connectivity and Megaport Cloud Router, which allows customers to link multiple cloud and network environments through a virtual routing service.
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