Apple (AAPL) Receives a Rating Update from a Top Analyst

In a report released yesterday, Amit Daryanani from Evercore ISI maintained a Buy rating on Apple, with a price target of $260.00. The company’s shares opened today at $255.88.

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According to TipRanks, Daryanani is a top 100 analyst with an average return of 20.8% and a 67.41% success rate. Daryanani covers the Technology sector, focusing on stocks such as Apple, Hewlett Packard Enterprise, and Arista Networks.

In addition to Evercore ISI, Apple also received a Buy from Bank of America Securities’s Wamsi Mohan in a report issued yesterday. However, on the same day, Jefferies maintained a Hold rating on Apple (NASDAQ: AAPL).

Based on Apple’s latest earnings release for the quarter ending June 28, the company reported a quarterly revenue of $94.04 billion and a net profit of $23.43 billion. In comparison, last year the company earned a revenue of $85.78 billion and had a net profit of $21.45 billion

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AAPL in relation to earlier this year. Last month, Arthur Levinson, a Director at AAPL sold 90,000.00 shares for a total of $20,886,300.00.