Fatpipe Inc/UT (NASDAQ:FATN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Fatpipe Inc/UT (NASDAQ:FATN) from a hold rating to a buy rating in a research report released on Sunday.

A number of other research firms have also recently commented on FATN. D. Boral Capital restated a “buy” rating and issued a $8.00 price objective on shares of Fatpipe Inc/UT in a research report on Friday, May 1st. Northland Securities assumed coverage on Fatpipe Inc/UT in a report on Monday, May 11th. They set an “outperform” rating and a $12.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Fatpipe Inc/UT in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.00.

Fatpipe Inc/UT Stock Performance

Shares of NASDAQ FATN opened at $7.04 on Friday. Fatpipe Inc/UT has a 52-week low of $1.31 and a 52-week high of $10.77. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.79 and a current ratio of 3.98. The firm has a market capitalization of $99.48 million, a PE ratio of 18.05 and a beta of 2.80. The firm’s 50 day moving average price is $5.72.

Fatpipe Inc/UT (NASDAQ:FATN) last posted its earnings results on Thursday, July 30th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. The company had revenue of $5.03 million for the quarter. Fatpipe Inc/UT had a net margin of 26.87% and a return on equity of 28.42%. Analysts predict that Fatpipe Inc/UT will post 0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new stake in shares of Fatpipe Inc/UT during the fourth quarter worth $51,000. Allworth Financial LP bought a new stake in Fatpipe Inc/UT in the 2nd quarter valued at $162,000. Finally, BlackRock Inc. acquired a new position in Fatpipe Inc/UT in the 2nd quarter worth $170,000.

About Fatpipe Inc/UT

FatPipe is a pioneer in enterprise-class, application-aware, secure software-defined wide area network (“SD-WAN”) solutions for organizations, including enterprises, communication service providers, security service providers, government organizations, and middle-market companies. Organizations, large and small, have become increasingly dependent on their information technology (“IT”) network infrastructure for data access and communications, and the critical importance of network reliability, extensibility, and durability has continued to grow as the volume of traffic across those networks expands.