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

Spirent Communications plc (LON:SPT) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 175.12 ($2.14) and traded as high as GBX 175.30 ($2.15). Spirent Communications shares last traded at GBX 172.50 ($2.11), with a volume of 1,207,861 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SPT shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 225 ($2.75) target price on shares of Spirent Communications in a report on Friday, November 22nd. Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 199 ($2.44) price objective on shares of Spirent Communications in a research note on Monday, December 2nd. Canaccord Genuity Group reaffirmed a “speculative buy” rating and set a GBX 199 ($2.44) target price on shares of Spirent Communications in a research note on Monday, December 2nd. Finally, JPMorgan Chase & Co. dropped their price target on Spirent Communications from GBX 344 ($4.21) to GBX 321 ($3.93) and set an “overweight” rating on the stock in a research note on Monday, September 16th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Spirent Communications presently has an average rating of “Buy” and an average price target of GBX 236.80 ($2.90).

Spirent Communications Stock Down 1.9 %

The company has a market cap of £986.44 million, a P/E ratio of 8,625.00, a PEG ratio of 5.73 and a beta of 0.57. The stock’s 50-day moving average price is GBX 174.53 and its 200-day moving average price is GBX 175.12. The company has a current ratio of 1.82, a quick ratio of 1.95 and a debt-to-equity ratio of 5.26.

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.