Mercury Systems (NASDAQ:MRCY) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Mercury Systems (NASDAQ:MRCY) had its price objective increased by The Goldman Sachs Group from $35.00 to $39.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “sell” rating on the technology company’s stock. The Goldman Sachs Group’s target price would suggest a potential downside of 41.64% from the stock’s current price.

Several other equities analysts have also weighed in on MRCY. JPMorgan Chase & Co. lifted their target price on shares of Mercury Systems from $56.00 to $68.00 and gave the company a “neutral” rating in a report on Tuesday. Royal Bank Of Canada lifted their target price on shares of Mercury Systems from $50.00 to $55.00 and gave the company a “sector perform” rating in a report on Thursday, July 3rd. Robert W. Baird lifted their target price on shares of Mercury Systems from $58.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday. Raymond James Financial raised shares of Mercury Systems from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $55.00 to $80.00 in a report on Tuesday. Finally, Truist Financial boosted their price target on shares of Mercury Systems from $60.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.13.

Mercury Systems Price Performance

NASDAQ:MRCY opened at $66.83 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.52 and a quick ratio of 2.25. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of -101.26, a price-to-earnings-growth ratio of 3.21 and a beta of 0.72. The company has a 50 day moving average price of $52.98 and a 200-day moving average price of $48.35. Mercury Systems has a 1-year low of $32.32 and a 1-year high of $69.95.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.26. The firm had revenue of $273.11 million during the quarter, compared to analyst estimates of $244.56 million. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 EPS. Equities research analysts forecast that Mercury Systems will post -0.08 EPS for the current year.

Insider Buying and Selling

In related news, EVP Steven Ratner sold 1,839 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $53.48, for a total value of $98,349.72. Following the completion of the sale, the executive vice president owned 35,174 shares of the company’s stock, valued at approximately $1,881,105.52. The trade was a 4.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Mercury Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its stake in Mercury Systems by 8.7% during the 2nd quarter. State Street Corp now owns 3,246,573 shares of the technology company’s stock worth $174,860,000 after purchasing an additional 259,388 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in Mercury Systems by 13.3% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,558,935 shares of the technology company’s stock worth $137,824,000 after purchasing an additional 300,749 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Mercury Systems by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,202,124 shares of the technology company’s stock worth $92,490,000 after purchasing an additional 52,725 shares during the last quarter. Millennium Management LLC boosted its stake in Mercury Systems by 196.1% during the 4th quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company’s stock worth $42,987,000 after purchasing an additional 677,894 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in Mercury Systems by 321.7% during the 2nd quarter. Loomis Sayles & Co. L P now owns 992,610 shares of the technology company’s stock worth $53,462,000 after purchasing an additional 757,216 shares during the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

Mercury Systems Company Profile

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.