Oppenheimer Initiates Coverage on Kaleyra (NYSE:KLR)

Analysts at Oppenheimer assumed coverage on shares of Kaleyra (NYSE:KLR) in a research report issued on Monday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $12.00 price target on the stock. Oppenheimer’s price target would indicate a potential upside of 200.00% from the stock’s previous close.

Several other equities research analysts have also commented on the company. Zacks Investment Research lowered Kaleyra from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 16th. Craig Hallum dropped their price target on Kaleyra from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Finally, Cowen dropped their price target on Kaleyra from $18.00 to $12.50 in a research report on Friday, March 20th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $11.60.

NYSE:KLR opened at $4.00 on Monday. Kaleyra has a 12 month low of $3.80 and a 12 month high of $11.35. The stock has a 50 day moving average of $6.05 and a two-hundred day moving average of $7.25. The firm has a market cap of $78.46 million and a P/E ratio of 16.67.

Kaleyra (NYSE:KLR) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.38). The business had revenue of $33.63 million during the quarter, compared to the consensus estimate of $35.07 million. Analysts anticipate that Kaleyra will post -0.13 earnings per share for the current year.

Institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC purchased a new position in Kaleyra in the first quarter worth approximately $31,000. Glazer Capital LLC purchased a new position in Kaleyra in the fourth quarter worth approximately $9,134,000. Cowen AND Company LLC purchased a new position in Kaleyra in the fourth quarter worth approximately $5,254,000. Finally, Greenhaven Road Investment Management L.P. purchased a new position in Kaleyra in the first quarter worth approximately $5,110,000. Institutional investors own 24.35% of the company’s stock.

About Kaleyra

Kaleyra, Inc is a global group providing mobile communication services for financial institutions and enterprises. The company trough its proprietary platform, it manages multi-channel integrated communication services on a global scale, comprising of messages, push notifications, e-mail, instant messaging, voice services and chatbots.

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