Spirent Communications (LON:SPT) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Spirent Communications plc (LON:SPT)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 175.54 ($2.18) and traded as high as GBX 177.50 ($2.20). Spirent Communications shares last traded at GBX 176.20 ($2.19), with a volume of 653,902 shares trading hands.

Wall Street Analyst Weigh In

SPT has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 225 ($2.80) price target on shares of Spirent Communications in a report on Friday, November 22nd. Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 199 ($2.47) price target on shares of Spirent Communications in a report on Monday, December 2nd. JPMorgan Chase & Co. dropped their price objective on Spirent Communications from GBX 344 ($4.27) to GBX 321 ($3.99) and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 199 ($2.47) target price on shares of Spirent Communications in a research note on Monday, December 2nd. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of GBX 236.80 ($2.94).

Spirent Communications Price Performance

The stock has a market cap of £1.01 billion, a P/E ratio of 8,810.00, a price-to-earnings-growth ratio of 5.73 and a beta of 0.57. The company has a debt-to-equity ratio of 5.26, a quick ratio of 1.95 and a current ratio of 1.82. The firm has a 50-day moving average price of GBX 174.06 and a 200-day moving average price of GBX 175.54.

About Spirent Communications

Spirent Communications plc provides automated test and assurance solutions in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company operates through Lifecycle Service Assurance, and Networks & Security segments. The Lifecycle Service Assurance segment offers lab-based testing solutions for 5G mobile core networks, and cellular and Wi-Fi devices, as well as live solutions.