Needham & Company LLC Raises Tech Data Corporation (TECD) Price Target to $102.00

Tech Data Corporation (NASDAQ:TECD) had its price objective boosted by Needham & Company LLC from $100.00 to $102.00 in a report published on Thursday morning, Marketbeat reports. The firm currently has a buy rating on the stock.

Several other research analysts have also recently commented on the company. Northcoast Research raised Tech Data Corporation from a neutral rating to a buy rating in a research report on Tuesday, September 5th. Zacks Investment Research lowered Tech Data Corporation from a buy rating to a hold rating in a research note on Monday, September 4th. Citigroup Inc. reiterated a hold rating and set a $100.00 price objective on shares of Tech Data Corporation in a research note on Friday, September 1st. Stifel Nicolaus dropped their price objective on Tech Data Corporation from $115.00 to $110.00 and set a buy rating for the company in a research note on Friday, September 1st. Finally, Loop Capital reiterated a buy rating and set a $120.00 price objective (down from $130.00) on shares of Tech Data Corporation in a research note on Friday, September 1st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $109.33.

Tech Data Corporation (NASDAQ:TECD) opened at 93.38 on Thursday. The stock’s 50 day moving average is $90.59 and its 200 day moving average is $96.96. Tech Data Corporation has a 52-week low of $74.07 and a 52-week high of $111.10. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 17.72 and a beta of 0.78.

Tech Data Corporation (NASDAQ:TECD) last issued its earnings results on Thursday, August 31st. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.32). The firm had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $8.74 billion. Tech Data Corporation had a return on equity of 11.60% and a net margin of 0.63%. The firm’s revenue for the quarter was up 39.8% compared to the same quarter last year. During the same period last year, the business earned $1.42 earnings per share. On average, analysts predict that Tech Data Corporation will post $8.94 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Needham & Company LLC Raises Tech Data Corporation (TECD) Price Target to $102.00” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece can be read at https://ledgergazette.com/2017/10/15/needham-company-llc-raises-tech-data-corporation-tecd-price-target-to-102-00.html.

A number of institutional investors have recently added to or reduced their stakes in TECD. BlackRock Inc. raised its stake in Tech Data Corporation by 12,492.8% during the first quarter. BlackRock Inc. now owns 3,852,635 shares of the company’s stock worth $361,763,000 after acquiring an additional 3,822,041 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Tech Data Corporation during the second quarter worth $35,974,000. Numeric Investors LLC raised its stake in Tech Data Corporation by 1,589.9% during the second quarter. Numeric Investors LLC now owns 326,156 shares of the company’s stock worth $32,942,000 after acquiring an additional 306,856 shares in the last quarter. Peregrine Capital Management LLC acquired a new position in Tech Data Corporation during the second quarter worth $26,404,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Tech Data Corporation by

Several other research analysts have also recently commented on the company. Northcoast Research raised Tech Data Corporation from a neutral rating to a buy rating in a research report on Tuesday, September 5th. Zacks Investment Research lowered Tech Data Corporation from a buy rating to a hold rating in a research note on Monday, September 4th. Citigroup Inc. reiterated a hold rating and set a $100.00 price objective on shares of Tech Data Corporation in a research note on Friday, September 1st. Stifel Nicolaus dropped their price objective on Tech Data Corporation from $115.00 to $110.00 and set a buy rating for the company in a research note on Friday, September 1st. Finally, Loop Capital reiterated a buy rating and set a $120.00 price objective (down from $130.00) on shares of Tech Data Corporation in a research note on Friday, September 1st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $109.33.

Tech Data Corporation (NASDAQ:TECD) opened at 93.38 on Thursday. The stock’s 50 day moving average is $90.59 and its 200 day moving average is $96.96. Tech Data Corporation has a 52-week low of $74.07 and a 52-week high of $111.10. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 17.72 and a beta of 0.78.

Tech Data Corporation (NASDAQ:TECD) last issued its earnings results on Thursday, August 31st. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.32). The firm had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $8.74 billion. Tech Data Corporation had a return on equity of 11.60% and a net margin of 0.63%. The firm’s revenue for the quarter was up 39.8% compared to the same quarter last year. During the same period last year, the business earned $1.42 earnings per share. On average, analysts predict that Tech Data Corporation will post $8.94 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Needham & Company LLC Raises Tech Data Corporation (TECD) Price Target to $102.00” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece can be read at https://ledgergazette.com/2017/10/15/needham-company-llc-raises-tech-data-corporation-tecd-price-target-to-102-00.html.

A number of institutional investors have recently added to or reduced their stakes in TECD. BlackRock Inc. raised its stake in Tech Data Corporation by 12,492.8% during the first quarter. BlackRock Inc. now owns 3,852,635 shares of the company’s stock worth $361,763,000 after acquiring an additional 3,822,041 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Tech Data Corporation during the second quarter worth $35,974,000. Numeric Investors LLC raised its stake in Tech Data Corporation by 1,589.9% during the second quarter. Numeric Investors LLC now owns 326,156 shares of the company’s stock worth $32,942,000 after acquiring an additional 306,856 shares in the last quarter. Peregrine Capital Management LLC acquired a new position in Tech Data Corporation during the second quarter worth $26,404,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Tech Data Corporation by 37.5% in the second quarter. JPMorgan Chase & Co. now owns 785,299 shares of the company’s stock valued at $79,316,000 after buying an additional 214,058 shares in the last quarter.

About Tech Data Corporation

Tech Data Corporation is a wholesale distributor of technology products. The Company serves as a link in the technology supply chain by bringing products from the technology vendors to market, as well as providing its customers with logistics capabilities and services. It operates through the segment of distributing technology products, logistics management and other value-added services.

Analyst Recommendations for Tech Data Corporation (NASDAQ:TECD)

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