ARM Holdings plc Stock Rating Upgraded by Zacks (ARMH)

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Zacks upgraded shares of ARM Holdings plc (NASDAQ:ARMH) from an underperform rating to a neutral rating in a research report sent to investors on Tuesday morning, AnalystRatings.Net reports. The firm currently has $49.30 price target on the stock.

Zacks has also updated their ratings on a number of other stocks in the last week. The firm upgraded shares of Penn West Energy Trust from an underperform rating to a neutral rating. The firm now has a $8.70 price target on that stock. Also, Zacks upgraded shares of Palatin Technologies from a neutral rating to an outperform rating. Zacks now has a $1.50 price target on that stock. Finally, Zacks upgraded shares of Petroleo Brasileiro SA from an underperform rating to a neutral rating. Zacks now has a $15.20 price target on that stock.

Other equities research analysts have also recently issued reports about the stock. Analysts at Sanford C. Bernstein upgraded shares of ARM Holdings plc from an underperform rating to a market perform rating in a research note on Tuesday. Separately, analysts at Canaccord Genuity raised their price target on shares of ARM Holdings plc from $55.00 to $60.00 in a research note on Tuesday, March 25th. They now have a buy rating on the stock. Finally, analysts at William Blair upgraded shares of ARM Holdings plc from a market perform rating to an outperform rating in a research note on Monday, March 10th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company’s stock. ARM Holdings plc presently has a consensus rating of Hold and a consensus price target of $49.56.

Shares of ARM Holdings plc (NASDAQ:ARMH) traded up 2.02% on Tuesday, hitting $51.42. 431,834 shares of the company’s stock traded hands. ARM Holdings plc has a 1-year low of $34.75 and a 1-year high of $55.26. The stock has a 50-day moving average of $49.30 and a 200-day moving average of $48.71. The company has a market cap of $24.149 billion and a P/E ratio of 141.18.

ARM Holdings plc (NASDAQ:ARMH) last released its earnings data on Tuesday, February 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by $0.21. The company had revenue of $189.10 million for the quarter. During the same quarter in the previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. Analysts expect that ARM Holdings plc will post $1.20 EPS for the current fiscal year.

ARM Holdings plc (NASDAQ:ARMH) designs microprocessors, physical Internet protocol (IP) and related technology and software, and sells development tools.

To view Zacks’ full report, visit Zacks’ official website.

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