Lenovo Group (OTCMKTS:LNVGY) Shares Gap Up – Should You Buy?

Lenovo Group Ltd. (OTCMKTS:LNVGY) shares gapped up prior to trading on Tuesday . The stock had previously closed at $62.41, but opened at $64.90. Lenovo Group shares last traded at $64.9950, with a volume of 16,108 shares.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Lenovo Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy”.

Lenovo Group Price Performance

The company’s 50-day moving average price is $40.59 and its two-hundred day moving average price is $29.79. The company has a market cap of $38.03 billion, a P/E ratio of 22.13, a P/E/G ratio of 2.30 and a beta of 1.10. The company has a current ratio of 0.96, a quick ratio of 0.71 and a debt-to-equity ratio of 0.56.

Lenovo Group (OTCMKTS:LNVGY) last posted its quarterly earnings results on Thursday, May 21st. The technology company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.54 by $0.28. Lenovo Group had a net margin of 2.30% and a return on equity of 28.52%. The business had revenue of $21.59 billion during the quarter, compared to analyst estimates of $19.39 billion. As a group, sell-side analysts expect that Lenovo Group Ltd. will post 2.75 earnings per share for the current year.

About Lenovo Group

Lenovo Group is a multinational technology company known primarily for the design, manufacture and sale of personal computers, servers, storage and smart devices. Its product portfolio spans consumer and commercial PCs (notable brands include ThinkPad, IdeaPad, Yoga and Legion), workstations, enterprise-class ThinkSystem servers and storage, as well as tablets, smartphones (notably through its Motorola Mobility acquisition), smart home devices and related software. Lenovo also provides IT services and solutions, including systems integration, managed services and lifecycle support for enterprise customers.

The company traces its origins to 1984 when it was founded in Beijing as Legend by Liu Chuanzhi; it later adopted the Lenovo name and expanded through a series of strategic acquisitions.