Eargo (NASDAQ:EAR) Raised to “Buy” at Zacks Investment Research


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Eargo (NASDAQ:EAR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Zacks.com reports. The brokerage presently has a $60.00 target price on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 0.37% from the stock’s previous close.

According to Zacks, “Eargo Inc. is a medical device company. Its product and go-to-market approach address challenges of traditional hearing aid adoption. Eargo Inc. is based in SAN JOSE, Calif. “

EAR has been the subject of several other reports. JPMorgan Chase & Co. started coverage on Eargo in a research report on Tuesday, November 10th. They issued an “overweight” rating and a $41.00 target price for the company. Wells Fargo & Company lifted their target price on Eargo from $53.00 to $60.00 in a research report on Wednesday. William Blair started coverage on Eargo in a research report on Tuesday, November 10th. They issued an “outperform” rating for the company. Bank of America started coverage on Eargo in a research report on Wednesday, November 11th. They issued a “buy” rating and a $43.00 target price for the company. Finally, ValuEngine downgraded Eargo from a “hold” rating to a “sell” rating in a research report on Saturday, November 21st. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Eargo presently has an average rating of “Buy” and an average price target of $51.00.

EAR traded up $5.86 on Wednesday, hitting $59.78. The company had a trading volume of 595,228 shares, compared to its average volume of 355,491. Eargo has a 1 year low of $32.58 and a 1 year high of $62.99. The stock’s fifty day simple moving average is $49.60.

Eargo (NASDAQ:EAR) last released its earnings results on Thursday, November 19th. The company reported $4.08 earnings per share for the quarter, beating the consensus estimate of ($0.56) by $4.64. The firm had revenue of $18.19 million during the quarter, compared to analyst estimates of $18.16 million. As a group, research analysts anticipate that Eargo will post -1.42 earnings per share for the current year.

About Eargo

Eargo, Inc, a consumer-focused medical device company, develops and sells hearing aids to assist people with hearing loss in the United States. It sells its products through online stores. The company was formerly known as Aria Innovations, Inc and changed its name to Eargo, Inc in November 2014. Eargo, Inc was founded in 2010 and is headquartered in San Jose, California.

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