Lumen Technologies (NYSE:LUMN) Stock Price Target Cut by Citigroup

Lumen Technologies (NYSE:LUMN) had its target price reduced by research analysts at Citigroup from $8.25 to $5.50 in a report released on Friday, Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Citigroup‘s target price points to a potential upside of 37.84% from the stock’s current price.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group dropped their price objective on Lumen Technologies from $7.25 to $5.00 and set a “neutral” rating for the company in a research report on Thursday. TD Cowen cut their target price on Lumen Technologies from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Thursday. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Friday, July 17th. Finally, Wells Fargo & Company cut their price objective on Lumen Technologies from $7.50 to $5.00 and set an “equal weight” rating on the stock in a report on Thursday. Ten equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $6.19.

Lumen Technologies Stock Performance

NYSE:LUMN traded up $0.01 during mid-day trading on Friday, hitting $3.99. 18,132,650 shares of the company’s stock traded hands, compared to its average volume of 13,752,571. The firm’s 50 day simple moving average is $5.62 and its 200 day simple moving average is $7.17. Lumen Technologies has a 1 year low of $3.84 and a 1 year high of $11.39. The company has a market cap of $4.11 billion, a PE ratio of -3.91 and a beta of 1.94.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Wednesday, November 4th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.09. The business had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.73 billion. On average, research analysts expect that Lumen Technologies will post -0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lumen Technologies

A number of large investors have recently modified their holdings of LUMN. Versant Capital Management Inc raised its holdings in shares of Lumen Technologies by 90.3% during the 2nd quarter. Versant Capital Management Inc now owns 3,920 shares of the technology company’s stock valued at $30,000 after buying an additional 1,860 shares during the period. Ascentis Independent Advisors acquired a new position in Lumen Technologies during the 1st quarter worth approximately $27,000. Trust Asset Management LLC acquired a new position in Lumen Technologies during the 2nd quarter worth approximately $34,000. Triumph Capital Management boosted its holdings in Lumen Technologies by 2,110.2% in the 2nd quarter. Triumph Capital Management now owns 5,614 shares of the technology company’s stock worth $43,000 after acquiring an additional 5,360 shares during the period. Finally, Global Retirement Partners LLC purchased a new position in Lumen Technologies in the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies News Summary

Here are the key news stories impacting Lumen Technologies this week:

• Positive Sentiment: Strategic revenue grew about 10% and reached 55% of total revenue, reflecting demand for AI-related services. Lumen reaffirmed full-year adjusted EBITDA guidance and said it remains on track for an EBITDA inflection in 2026. Lumen Q3 results
• Positive Sentiment: The quarterly loss of $0.14 per share was narrower than analysts’ expected loss, offering a profitability bright spot. Why Lumen Technologies Sank Today
• Negative Sentiment: Revenue of roughly $2.71 billion fell short of estimates and was down year over year. Free cash flow also turned negative, tempering the strategic-growth story and contributing to investor concern about the broader business. Q3 earnings call highlights
• Negative Sentiment: Several firms cut their price targets: JPMorgan to $6 from $7, TD Cowen to $8 from $9, Goldman Sachs to $5 from $7.25, and Wells Fargo to $5 from $7.50. Their ratings remained neutral, hold, or equal weight; the widespread reductions suggest less confidence in the near-term outlook. JPMorgan rating information

About Lumen Technologies

Lumen Technologies, Inc is a communications and technology company that provides network, connectivity, cloud, cybersecurity and managed services primarily to businesses, government organizations and wholesale customers. Its offerings include fiber-based internet and data transport, software-defined networking, network security, unified communications, voice services, edge computing and related information technology solutions.

The company operates one of the largest enterprise fiber networks in the United States and also serves customers internationally through its global network and wholesale operations.