Infinera Corp. (NASDAQ: INFN): Stock Forecast For 2024 Remains Weak With A Downward Revision Of 35.3%

In the last trading session, 2.36 million shares of the Infinera Corp. (NASDAQ:INFN) were traded, and its beta was 1.64. Most recently the company’s share price was $4.82, and it changed around $0.1 or 2.12% from the last close, which brings the market valuation of the company to $1.12B. INFN currently trades at a discount to its 52-week high of $6.62, offering almost -37.34% off that amount. The share price’s 52-week low was $2.82, which indicates that the current value has risen by an impressive 41.49% since then. We note from Infinera Corp.’s average daily trading volume that its 3-month average coming to 3.55 million.

Infinera Corp. stock received a consensus recommendation rating of Hold, based on a mean score of 2.20. If we narrow it down even further, the data shows that 0 out of 16 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 8 recommended INFN as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Infinera Corp. is expected to report earnings per share of $Horizon Kinetics Inflation Bene for the current quarter.

Infinera Corp. (NASDAQ:INFN) trade information

Instantly INFN has showed a green trend with a performance of 2.12% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 1.47% year-to-date, but still up 6.17% over the last five days. On the other hand, Infinera Corp. (NASDAQ:INFN) is -10.07% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $7.02, which translates to bulls needing to increase their stock price by 31.34% from its current value. Analyst projections state that INFN is forecast to be at a low of $4.6 and a high of $9.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 23.26%. Infinera Corp. earnings are expected to increase by 13.48% in 2024, but the outlook is positive 20.00% per year for the next five years.