$58.20 million in sales expected for Kore Group Holdings Inc (NYSE:KORE) this quarter

Wall Street brokers expect Kore Group Holdings Inc (NYSE:KORE – Get Rating) to achieve sales of $58.20 million in the current fiscal quarter, reports Zacks Investment Research. Four analysts provided earnings estimates for Kore Group. The highest sales estimate is $60.00 million and the lowest is $56.00 million. The company is expected to release its next earnings report after the market closes on Tuesday, March 29.

On average, analysts expect Kore Group to report annual sales of $241.80 million for the current fiscal year, with estimates ranging from $239.92 million to $244.00 million. For the next fiscal year, analysts expect the company to post sales of $238.98 million, with estimates ranging from $228.19 million to $249.50 million. Zacks Investment Research sales calculations are an average average based on a survey of research firms that provide coverage for Kore Group.

Several analysts have recently commented on the stock. Cowen cut his price target on Kore Group shares from $18.00 to $12.50 and set an “outperform” rating for the company in a Thursday, March 10 report. Zacks Investment Research upgraded Kore Group shares from a “sell” rating to a “hold” rating in a research report on Thursday, January 20. Roth Capital launched coverage on Kore Group shares in a research report on Thursday, January 20. They set a “buy” rating and a price target of $13.00 for the company. Morgan Stanley launched a hedge on Kore Group shares in a report on Friday, December 17. They set an “equal weight” rating and a target price of $7.50 on the stock. Finally, Deutsche Bank Aktiengesellschaft launched a hedge on Kore Group shares in a Monday, January 10 report. They set a “hold” rating and a target price of $8.00 on the stock. Three equity research analysts gave the stock a hold rating and two gave the stock a buy rating. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.25.

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Shares of KORE opened at $5.32 on Friday. The company has a 50-day moving average price of $5.49. Kore Group has a one-year minimum of $4.59 and a one-year maximum of $9.50.

A number of large investors have recently changed their holdings in KORE. Qube Research & Technologies Ltd acquired a new stake in Kore Group in the fourth quarter, valued at approximately $375,000. Northwestern Mutual Investment Management Company LLC purchased a new stock position in Kore Group during the fourth quarter worth approximately $8,153,000. Northern Trust Corp bought a new stock position in Kore Group in the fourth quarter for a value of about $381,000. Raymond James & Associates bought a new stock position in Kore Group in the fourth quarter worth about $71,000. Finally, Bank of America Corp DE bought a new stock position in Kore Group in the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 87.29% of the company’s shares.

Kore Group Company Profile (Get a rating)

KORE Group Holdings Inc provides Internet of Things solutions and IoT connectivity as a service. KORE Group Holdings Inc, formerly known as Cerberus Telecom Acquisition Corp., is based in ATLANTA.

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