Fatpipe Inc/UT (NASDAQ:FATN) Raised to Buy at Wall Street Zen

Fatpipe Inc/UT (NASDAQ:FATN) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

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

Fatpipe Inc/UT Trading Up 1.9%

NASDAQ FATN opened at $6.49 on Friday. The company has a market cap of $91.70 million, a price-to-earnings ratio of 16.64 and a beta of 2.80. The company has a 50-day moving average of $5.71. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.98 and a quick ratio of 3.79. Fatpipe Inc/UT has a 12 month low of $1.31 and a 12 month high of $10.77.

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

Institutional Investors Weigh In On Fatpipe Inc/UT

An institutional investor recently bought a new stake in Fatpipe Inc/UT stock. Renaissance Technologies LLC acquired a new position in shares of Fatpipe Inc/UT (NASDAQ:FATN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 25,300 shares of the company’s stock, valued at approximately $51,000. Renaissance Technologies LLC owned about 0.18% of Fatpipe Inc/UT at the end of the most recent reporting period.

Fatpipe Inc/UT Company Profile

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.