Brokerages predict that IronNet, Inc. (NYSE:IRNT) will announce $6.85 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for IronNet’s earnings, with the lowest sales estimate coming in at $6.60 million and the highest estimate coming in at $7.10 million. The firm is expected to report its next earnings report on Monday, January 1st.
On average, analysts expect that IronNet will report full-year sales of $26.25 million for the current fiscal year, with estimates ranging from $26.00 million to $26.50 million. For the next year, analysts expect that the business will report sales of $38.85 million, with estimates ranging from $38.60 million to $39.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover IronNet.
IronNet (NYSE:IRNT) last posted its earnings results on Wednesday, December 15th. The company reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.11). The company had revenue of $6.91 million for the quarter, compared to analysts’ expectations of $13.45 million.
Several analysts recently weighed in on IRNT shares. Zacks Investment Research upgraded shares of IronNet from a “sell” rating to a “hold” rating in a report on Wednesday, January 5th. Jefferies Financial Group dropped their price target on shares of IronNet from $6.00 to $4.25 in a research note on Thursday, January 6th. Needham & Company LLC downgraded shares of IronNet from a “buy” rating to a “hold” rating in a research note on Thursday, December 16th. Finally, BTIG Research assumed coverage on shares of IronNet in a research note on Friday, September 24th. They issued a “neutral” rating for the company.
In other news, Director John M. Keane acquired 25,000 shares of the firm’s stock in a transaction dated Monday, January 3rd. The stock was acquired at an average cost of $4.24 per share, with a total value of $106,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Keith Brian Alexander sold 90,000 shares of IronNet stock in a transaction on Monday, October 25th. The stock was sold at an average price of $10.13, for a total transaction of $911,700.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 384,100 shares of company stock valued at $4,159,792.
Institutional investors have recently added to or reduced their stakes in the company. Two Sigma Securities LLC purchased a new stake in IronNet in the third quarter valued at $193,000. Capital Research Global Investors purchased a new stake in IronNet in the third quarter valued at $64,236,000. Marshall Wace LLP purchased a new stake in IronNet in the third quarter valued at $10,230,000. Royal Bank of Canada purchased a new stake in IronNet in the third quarter valued at $25,000. Finally, Morgan Stanley purchased a new stake in IronNet in the third quarter valued at $476,000. 67.32% of the stock is owned by institutional investors and hedge funds.
IronNet stock opened at $3.53 on Tuesday. IronNet has a fifty-two week low of $3.27 and a fifty-two week high of $47.50. The firm has a 50 day moving average of $7.47.
IronNet Company Profile
IronNet Cybersecurity Inc provides cybersecurity by delivering collective defense platform. IronNet Cybersecurity Inc, formerly known as LGL Systems Acquisition Corp., is based in RENO, NV.
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