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Should You Invest In Casa Systems Inc. (NASDAQ: CASA) In 2023?

In the latest trading session, 0.82 million Casa Systems Inc. (NASDAQ:CASA) shares changed hands as the company’s beta touched 1.17. With the company’s most recent per share price at $2.10 changed hands at -$1.39 or -39.79% at last look, the market valuation stands at $340.34M. CASA’s current price is a discount, trading about -241.9% off its 52-week high of $7.18. The share price had its 52-week low at $2.35, which suggests the last value was -11.9% down since then. When we look at Casa Systems Inc.’s average trading volume, we note the 10-day average is 0.16 million shares, with the 3-month average coming to 203.61K.

Analysts gave the Casa Systems Inc. (CASA) stock a consensus recommendation rating of an Overweight. If we narrow down to specifics, the data shows that 0 out of 3 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended CASA as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Casa Systems Inc.’s EPS for the current quarter is expected to be -$0.07.

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Casa Systems Inc. (NASDAQ:CASA) trade information

Instantly CASA was in red as seen in intraday trades today. With action -42.42%, the performance over the past five days has been red. The drop to weekly highs of 3.79 on Tuesday, 03/14/23 subtracted -39.79% to the stock’s daily price. The company’s shares are showing year-to-date downside of -23.02%, with the 5-day performance at -42.42% in the red. However, in the 30-day time frame, Casa Systems Inc. (NASDAQ:CASA) is -44.70% down. Looking at the short shares, we see there were 2.44 million shares sold at short interest cover period of 12.13 days.

The consensus price target for the stock as assigned by Wall Street analysts is $3.75, meaning bulls need an upside of 44.0% from its recent market value. According to analyst projections, CASA’s forecast low is $2.50 with $5.00 as the target high. To hit the forecast high, the stock’s price needs a -138.1% plunge from its current level, while the stock would need to soar -19.05% for it to hit the projected low.

Casa Systems Inc. (CASA) estimates and forecasts

Data shows that the Casa Systems Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -37.08% over the past 6 months, a 69.01% in annual growth rate that is considerably higher than the industry average of 0.70%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Casa Systems Inc. will fall -200.00%, while the growth in revenue is estimated to hit 67.60% for the next quarter. Year-over-year growth is forecast to reach -28.40% down from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $77.36 million. 1 analysts are of the opinion that Casa Systems Inc.’s revenue for the quarter ending Mar 2023 will be $69.99 million. The company’s revenue for the corresponding quarters a year ago was $97.21 million and $79.21 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -20.40%. The estimates for the next quarter sales put growth at -11.60%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 15.80%. The 2023 estimates are for Casa Systems Inc. earnings to decrease by -87.60%.

CASA Dividends

Casa Systems Inc. is expected to release its next quarterly earnings report between May 02 and May 08.

Casa Systems Inc. (NASDAQ:CASA)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 21.45% of Casa Systems Inc. shares while 72.02% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 91.69%. There are 72.02% institutions holding the Casa Systems Inc. stock share, with Summit Partners, L.P. the top institutional holder. As of Sep 29, 2022, the company held 36.06% of the shares, roughly 34.12 million CASA shares worth $106.81 million.

AllianceBernstein, L.P. holds the second largest percentage of outstanding shares, with 4.45% or 4.21 million shares worth $13.19 million as of Sep 29, 2022.

Among Mutual Funds, the top two as of Oct 30, 2022 were Northern Lights Fd Tr II-Invenomic Fd and ETF Series Solutions-Defiance Next Gen Connectivity ETF. With 1.62 million shares estimated at $5.1 million under it, the former controlled 1.71% of total outstanding shares. On the other hand, ETF Series Solutions-Defiance Next Gen Connectivity ETF held about 1.03% of the shares, roughly 0.98 million shares worth around $3.05 million.

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