Brokerages Set Lumen Technologies, Inc. (NYSE:LUMN) Price Target at $8.32

Shares of Lumen Technologies, Inc. (NYSE:LUMN) have been assigned an average rating of “Reduce” from the ten analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and nine have given a hold recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $8.1071.

LUMN has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on Lumen Technologies from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Friday, July 17th. The Goldman Sachs Group reduced their price target on shares of Lumen Technologies from $8.50 to $7.25 and set a “neutral” rating for the company in a report on Wednesday. UBS Group upped their price target on shares of Lumen Technologies from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company dropped their price objective on shares of Lumen Technologies from $9.00 to $7.50 and set an “equal weight” rating on the stock in a report on Wednesday.

Lumen Technologies Stock Up 6.2%

Shares of NYSE LUMN opened at $6.27 on Friday. The firm’s 50-day moving average price is $7.41 and its two-hundred day moving average price is $7.83. Lumen Technologies has a 52-week low of $3.69 and a 52-week high of $11.95. The stock has a market capitalization of $6.46 billion, a P/E ratio of -6.14 and a beta of 1.78.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, August 4th. The technology company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.06. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.74 billion. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period last year, the company posted ($0.03) earnings per share. As a group, equities research analysts expect that Lumen Technologies will post -0.42 earnings per share for the current year.

More Lumen Technologies News

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

• Positive Sentiment: CEO Kathleen Johnson purchased 100,000 LUMN shares for approximately $613,000 at an average price of $6.13. The sizable open-market purchase signals management confidence in Lumen’s turnaround and better aligns the CEO’s interests with shareholders. Insider Buying: Lumen Technologies CEO Acquires Stock
• Positive Sentiment: Lumen’s second-quarter loss of $0.07 per share was narrower than the $0.13 analyst consensus, while revenue of $2.81 billion exceeded expectations of $2.74 billion. The earnings beat provides evidence that cost controls and the company’s transformation may be progressing. What Changed for Lumen After Earnings Beat
• Positive Sentiment: Lumen is extending its multi-cloud strategy through an Amdocs agreement to modernize enterprise service orchestration and order management on AWS. The initiative could improve service delivery and support growth in cloud- and AI-related offerings. Lumen Extends Multi-Cloud Strategy
• Neutral Sentiment: Analyst opinion remains mixed: several firms maintain Hold or Neutral ratings, while the broader consensus is Reduce. This suggests the earnings beat and insider purchase have not yet resolved uncertainty surrounding Lumen’s long-term turnaround. Analysts Conflicted on Communication Services Names
• Negative Sentiment: Revenue declined 9.3% year over year to $2.81 billion, underscoring continued weakness in Lumen’s legacy businesses. Investors remain concerned that growth in strategic services may not yet be sufficient to offset those declines.
• Negative Sentiment: Goldman Sachs lowered its LUMN price target from $8.50 to $7.25, while Wells Fargo issued a pessimistic forecast and also reduced expectations. The cuts reinforce concerns about limited near-term upside and likely contributed to pressure on the stock. Lumen Shares Down on Analyst Downgrade

Insider Buying and Selling

In other news, CEO Kathleen E. Johnson purchased 100,000 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were bought at an average price of $6.13 per share, for a total transaction of $613,000.00. Following the completion of the purchase, the chief executive officer owned 100,000 shares of the company’s stock, valued at $613,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Lumen Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Lumen Technologies by 3.5% during the 2nd quarter. BlackRock Inc. now owns 142,261,845 shares of the technology company’s stock valued at $1,092,571,000 after acquiring an additional 4,796,141 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Lumen Technologies by 324.7% in the fourth quarter. JPMorgan Chase & Co. now owns 22,211,742 shares of the technology company’s stock worth $172,585,000 after purchasing an additional 16,981,326 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Lumen Technologies by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,390,473 shares of the technology company’s stock worth $142,894,000 after purchasing an additional 473,242 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Lumen Technologies by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 14,994,640 shares of the technology company’s stock valued at $104,156,000 after purchasing an additional 144,664 shares during the period. Finally, Norges Bank bought a new stake in shares of Lumen Technologies during the fourth quarter valued at about $106,557,000. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Company Profile

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.