This is the second communications stock we’re talking about this week. After covering Ciena Corp. yesterday, we got quite interesting feedback on the sector in general and other telecom stocks in particular. So well, Juniper Networks (NYSE: JNPR) is going through a very interesting phase. After going from about $20 all the way over $30 in less than a year, the stock saw some correction, falling about 10% in just under 2 months.
But given recent trends from the last week or so, it looks like the stock may get back up again.
Wall Street Seems Bullish
So the Confidence Meter, which was consistently at 50% for a couple of months, went up to nearly 68% a fortnight ago and is now holding ground at 67%. As of the time of writing this piece, the stock price has also gone past $28 again.
Interestingly, the overall long-term picture is a must watch here.
While at the latest earnings announcement, Juniper was able to go past most estimates, the next quarters forecasts a decline in revenues. But, subsequently the revenues are predicted to trend up again which should be encouraging for the wait-and-watch investor in you.
Combine that with the fact the investor sentiment has been generally positive when it comes to Juniper and the sector is trending up itself, JNPR should make a compelling watch.
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