Clearfield Stock (NASDAQ:CLFD), Trade Ideas

Clearfield

Clearfield Inc mainly designs, manufactures, and distributes fiber protection, fiber management and fiber delivery solutions for communications networks. It provides a range of products including copper assemblies, cassettes, box enclosures, fiber connectors, frames, microduct, terminals, vaults, pedestal inserts, FieldSmart, WaveSmart, and CraftSmart. The company has a global presence with the majority of the revenue derived from the United States. The company has two reportable segments namely Clearfield segment and Nestor cables segment. The majority of revenue is derived from Clearfield segment.

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Clearfield Inc

Needham analyst Ryan Koontz reiterates Clearfield (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLFD#NASDAQ">CLFD</a>) with a Buy and maintains $36 price target.

Needham Reiterates Buy on Clearfield, Maintains $36 Price Target

U.S. stocks traded mixed, with the Dow Jones falling over 100 points on Friday.
Shares of The Clorox Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/clx#NYSE">CLX</a>) shares gained during Friday&rsquo;s session after the company reported better-than-expected second-quarter financial results and raised FY24 adjusted EPS <a href="https://www.benzinga.com/quote/CLX/news">guidance above estimates</a>.
Clorox shares rose 4.6% to $154.77 on Friday.
Here are some other big stocks recording gains in today&rsquo;s session.
<ul>
<li>Tyra Biosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tyra#NASDAQ">TYRA</a>) shares rose 21.8% to $15.84. Tyra Biosciences, announced a $200 million private placement financing.</li>
<li>Meta Platforms, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) climbed 18.9% to $469.34 as the company reported upbeat fourth-quarter financial results and initiated a quarterly dividend of 50 cents per share.</li>
<li>Deckers Outdoor Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/deck#NYSE">DECK</a>) gained 14% to $879.03 after reporting better-than-expected third-quarter financial results.</li>
<li>Gaotu Techedu Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gotu#NYSE">GOTU</a>) rose 12.5% to $4.11.</li>
<li>PropertyGuru Group Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pgru#NYSE">PGRU</a>) climbed 11.6% to $3.57.</li>
<li>Nayax Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nyax#NASDAQ">NYAX</a>) gained 9.2% to $26.47.</li>
<li>Applied Optoelectronics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aaoi#NASDAQ">AAOI</a>) rose 8.4% to $17.90. Applied Optoelectronics is expected to release financial results for its fourth quarter on Feb. 22, 2024.</li>
<li>AppLovin Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/app#NASDAQ">APP</a>) gained 8% to $44.25.</li>
<li>Clearfield, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clfd#NASDAQ">CLFD</a>) gained 7.3% to $28.03 following upbeat results.</li>
<li>KB Financial Group Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kb#NYSE">KB</a>) gained 6.5% to $49.41.</li>
<li>Amazon.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) shares surged 6.2% to $169.20 after the company posted stronger-than-expected results for its fourth quarter. The company said it sees first-quarter revenue to be between $138 billion and $143.5 billion versus estimates of $142.13 billion. Operating income is expected to be between $8 billion and $12 billion in the first quarter.</li>
<li>Shopify Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/shop#NYSE">SHOP</a>) gained 5.9% to $81.25. Wells Fargo analyst Andrew Bauch maintained Shopify with an Overweight and raised the price target from $70 to $90.</li>
<li>The Cigna Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ci#NYSE">CI</a>) rose 5.7% to $324.87 after the company reported better-than-expected fourth-quarter results and issued a strong revenue outlook. The company also raised its dividend.</li>
<li>Snowflake Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snow#NYSE">SNOW</a>) gained 5% to $209.96 after Raymond James raised its price target on the stock from $190 to $223.</li>
<li>LPL Financial Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lpla#NASDAQ">LPLA</a>) gained 5% to $252.46 following strong earnings.</li>
<li>Piper Sandler Companies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pipr#NYSE">PIPR</a>) climbed 4.6% to $185.52 following upbeat results.</li>
<li>SkyWest, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skyw#NASDAQ">SKYW</a>) gained 4.1% to $56.30. Raymond James analyst Savanthi Syth maintained SkyWest with an Outperform and raised the price target from $55 to $65.</li>
</ul>
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4 analysts have shared their evaluations of Clearfield (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLFD#NASDAQ">CLFD</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Clearfield, revealing an average target of $40.75, a high estimate of $47.00, and a low estimate of $36.00. A negative shift in sentiment is evident as analysts have decreased the average price target by 8.78%. 
<img src="https://www.benzinga.com/files/images/story/2024/1706878822_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Clearfield. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Ryan Koontz</td>
<td>Needham</td>
<td>Lowers</td>
<td>Buy</td>
<td>$36.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>Scott Searle</td>
<td>Roth MKM</td>
<td>Lowers</td>
<td>Buy</td>
<td>$47.00</td>
<td>$49.00</td>
</tr>
<tr>
<td>Ryan Koontz</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$40.00</td>
<td>-</td>
</tr>
<tr>
<td>Ryan Koontz</td>
<td>Needham</td>
<td>Lowers</td>
<td>Buy</td>
<td>$40.00</td>
<td>$45.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Clearfield. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Clearfield compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Clearfield's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Clearfield's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/CLFD/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Clearfield analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>All You Need to Know About Clearfield</h2>
Clearfield Inc mainly designs, manufactures, and distributes fiber protection, fiber management and fiber delivery solutions for communications networks. It provides a range of products including copper assemblies, cassettes, box enclosures, fiber connectors, frames, microduct, terminals, vaults, pedestal inserts, FieldSmart, WaveSmart, and CraftSmart. The company has a global presence with the majority of the revenue derived from the United States. The company has two reportable segments namely Clearfield segment and Nestor cables segment. The majority of revenue is derived from Clearfield segment.
<h3>A Deep Dive into Clearfield's Financials</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Challenges: Clearfield's revenue growth over 3 months faced difficulties. As of 30 September, 2023, the company experienced a decline of approximately -47.72%. This indicates a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: Clearfield's net margin is impressive, surpassing industry averages. With a net margin of 5.43%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Clearfield's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 0.86%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Clearfield's ROA stands out, surpassing industry averages. With an impressive ROA of 0.75%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Clearfield's debt-to-equity ratio is below the industry average. With a ratio of 0.07, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Latest Analyst Ratings For Clearfield

Needham analyst Ryan Koontz maintains Clearfield (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLFD#NASDAQ">CLFD</a>) with a Buy and lowers the price target from $40 to $36.

Needham Maintains Buy on Clearfield, Lowers Price Target to $36

Clearfield (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLFD#NASDAQ">CLFD</a>) reported its Q1 earnings results on Thursday, February 1, 2024 at 04:00 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Clearfield beat estimated earnings by 18.6%, reporting an EPS of $-0.35 versus an estimate of $-0.43.
Revenue was down $51.71 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.07 which was followed by a 1.66% increase in the share price the next day.
Here's a look at Clearfield's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.10</td>
<td>0.09</td>
<td>0.65</td>
<td>0.96</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.17</td>
<td>0.33</td>
<td>0.67</td>
<td>1</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>49.06M</td>
<td>53.72M</td>
<td>71.98M</td>
<td>84.20M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>49.69M</td>
<td>61.28M</td>
<td>71.81M</td>
<td>85.94M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Clearfield <a href="https://www.benzinga.com/quote/CLFD/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Recap: Clearfield Q1 Earnings

Clearfield (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLFD#NASDAQ">CLFD</a>) reported quarterly losses of $(0.35) per share which beat the analyst consensus estimate of $(0.43) by 18.6 percent. This is a 135 percent decrease over earnings of $1.00 per share from the same period last year. The company reported quarterly sales of $34.23 million which beat the analyst consensus estimate of $29.85 million by 14.67 percent. This is a 60.17 percent decrease over sales of $85.94 million the same period last year.

Clearfield Q1 EPS $(0.35) Beats $(0.43) Estimate, Sales $34.23M Beat $29.85M Estimate

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Earnings Scheduled For February 1, 2024

Clearfield (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLFD#NASDAQ">CLFD</a>) is set to give its latest quarterly earnings report on Thursday, 2024-02-01. Here's what investors need to know before the announcement.
Analysts estimate that Clearfield will report an earnings per share (EPS) of $-0.43. 
Clearfield bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company beat EPS by $0.07, which was followed by a 1.66% increase in the share price the next day.
Here's a look at Clearfield's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.10</td>
<td>0.09</td>
<td>0.65</td>
<td>0.96</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.17</td>
<td>0.33</td>
<td>0.67</td>
<td>1</td>
</tr>
<tr>
<td>Price Change %</td>
<td>1.66%</td>
<td>-10.48%</td>
<td>-16.3%</td>
<td>-12.3%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1706734888_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Clearfield were trading at $25.74 as of January 30. Over the last 52-week period, shares are down 64.39%. Given that these returns are generally negative, long-term shareholders are likely unhappy going into this earnings release. 
<a href="https://www.benzinga.com/quote/CLFD/earnings">To track all earnings releases for Clearfield visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview For Clearfield

Roth MKM has decided to maintain its Buy rating of Clearfield (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLFD#NASDAQ">CLFD</a>) and lower its price target from $49.00 to $47.00.
Shares of Clearfield are trading up 0.0% over the last 24 hours, at $25.56 per share.
A move to $47.00 would account for a 83.88% increase from the current share price.
<h3>About Clearfield</h3>
Clearfield Inc mainly designs, manufactures, and distributes fiber protection, fiber management and fiber delivery solutions for communications networks. It provides a range of products including copper assemblies, cassettes, box enclosures, fiber connectors, frames, microduct, terminals, vaults, pedestal inserts, FieldSmart, WaveSmart, and CraftSmart. The company has a global presence with the majority of the revenue derived from the United States. The company has two reportable segments namely Clearfield segment and Nestor cables segment. The majority of revenue is derived from Clearfield segment.
<h3>About Analyst Ratings</h3>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Roth MKM Maintains Buy Rating for Clearfield: Here's What You Need To Know

Roth MKM analyst Scott Searle maintains Clearfield (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLFD#NASDAQ">CLFD</a>) with a Buy and lowers the price target from $49 to $47.

Roth MKM Maintains Buy on Clearfield, Lowers Price Target to $47-Report Released on 28 January 2024

Needham analyst Ryan Koontz reiterates Clearfield (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLFD#NASDAQ">CLFD</a>) with a Buy and maintains $40 price target.

Needham Reiterates Buy on Clearfield, Maintains $40 Price Target

Thanksgiving week is here and investors will be anxiously awaiting the results of Black Friday sales and the impact they have on retail stocks.
Here's a look at stocks that analysts are eyeing ahead of the important shopping holiday.
KeyBanc on Black Friday: The crucial retail holiday of <a href="http://benzinga.com/topic/black-friday">Black Friday</a> is assessed by KeyBanc analysts, who express a &#8220;cautious near-term view&#8221; regarding consumer spending during this shopping season.
Analysts Brad Thomas and Ashley Ownes explored opportunities in the retail sector ahead of the holiday shopping season.
"With Black Friday approaching and the all-important holiday season underway, we highlight key consumer trends and our views on outperformers/underperformers in the weeks ahead," the analyst said.
The analysts also look at seasonality, forecasts from the National Retail Federation and the impact of an extra day in the 2023 holiday calendar.
"In recent months, we have seen weakness in discretionary spending, as evidenced in our proprietary Key First Look Data and comments from many retailers this earnings season."
The analysts said consumers "remain pressured by elevated inflation" and other macroeconomic concerns.
"We believe consumers will likely show up for the Black Friday weekend and the pre-Christmas shopping period. However, we believe the consumer will increasingly shop sales events as they look for deals and bargains."
The analyst singles out the following stocks as potential Black Friday and holiday shopping winners.
"We continue to believe investors can play offense and defense within the discount space, as shoppers seek value."
Five Below Inc (NASDSAQ:FIVE): Overweight rating, $215 price target
Ollie's Bargain Outlet Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>): Overweight rating, $93 price target
Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>): Overweight rating, $177 price target
For e-commerce retailers, the analysts recommend several companies against potential softness in the space.
Nordstrom Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>): Overweight rating, $19 price target
Lululemon Athletica Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>): Overweight rating, $450 price target
On Holding AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONON#NYSE">ONON</a>): Overweight rating, $40 price target
The analysts underscore their attention on athletic wear, citing new product launches and the &#8220;casualization of apparel&#8221; in the sector as key factors influencing consumer behavior.
Nordstrom receives a recommendation due to enhancements in its off-price Rack segment and positive developments in inventory trends.
"We expect a return to normalized purchasing behavior as compared to prior years, similar to what many companies have already been experiencing."
The analysts said Black Friday could take back share during the holiday season.
"The holiday quarter is the most important of the year."
Related Link: <a href="https://www.benzinga.com/news/23/11/35867972/consumer-spending-to-increase-by-13-on-black-friday-holiday-shopping-despite-economic-headwinds-delo">Consumer Spending To Increase By 13% On Black Friday Holiday Shopping Despite Economic Headwinds: Deloitte Survey</a>
Roth MKM on Black Friday: A recovery of the semiconductor, broadband and Internet of Things sectors are sized up ahead of the holiday shopping season.
"It's early, but as we conclude a challenging 2023 small cap tech tape, it's time to trade up to quality," Roth MKM analyst Scott Searle said.
The analyst said numbers and valuations have bottomed and anticipated 2024 smartphone growth could be a positive for the sector.
For the broadband sector, Searle highlights Calix Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CALX#NYSE">CALX</a>) and Clearfield Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLFD#NASDAQ">CLFD</a>) as companies to be on investors' radar. The analyst also expects Cambium Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMBM#NASDAQ">CMBM</a>) and Aviat Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVNW#NASDAQ">AVNW</a>) to benefit from deployments of fixed wireless access.
A recovery of the smartphone sector with growth expected in 2024 could benefit several companies. "Following two years of contraction and reaching the lowest unit volume in a decade, smartphones are expected to grow 4.5% in 2024," Searles said.
Stocks highlighted include Semtech Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTC#NASDAQ">SMTC</a>) and Interdigital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDCC#NASDAQ">IDCC</a>) for smartphone growth.
PowerFleet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PWFL#NASDAQ">PWFL</a>) and KORE Group Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KORE#NYSE">KORE</a>) are also highlighted as stocks that are improving their balance sheets and could see "meaningful appreciation into 2024."
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/35834357/analysts-praise-targets-q3-results-gross-margins-but-have-cautious-tone-for-future-">Analysts Praise Target&#8217;s Q3 Results, Gross Margins, But Have Cautious Tone For Future: Retailer &#8216;Facing The Largest Macro Headwinds&#8217;</a>
Photo: Shutterstock

Black Friday Preview: 'Consumers Will Likely Show Up' — 14 Retail, Technology Stock Picks From Analysts

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Shares of tech stocks are trading higher amid a drop in yields following softer-than-expected October inflation figures, which has lifted growth sectors.

Needham analyst Ryan Koontz maintains Clearfield (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLFD#NASDAQ">CLFD</a>) with a Buy and lowers the price target from $45 to $40.

Needham Maintains Buy on Clearfield, Lowers Price Target to $40

Guidance

Clearfield Sees Q1 Net Sales $28M-$32M vs $48.13M Est.

Clearfield Q4EPS $0.17, Net Sales $49.7M vs $48.76M Est.

Outlook At this time and after considering the current state of the industry, the Company expects net sales for the first quarter of fiscal 2024 to be in the range of $28 million to $32 million and net loss per share to be in the range of $0.36 to $0.44. This range does not reflect any share repurchases that may be completed through the quarter.

Clearfield Sees Q1 2024 EPS $(0.36)-$(0.44) Vs $0.08 Est.; Revenue $28M-$32M Vs $48.13M Est.

Clearfield (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLFD#NASDAQ">CLFD</a>) reported quarterly earnings of $0.17 per share which beat the analyst consensus estimate of $0.10 by 70 percent. This is a 86.07 percent decrease over earnings of $1.22 per share from the same period last year. The company reported quarterly sales of $49.69 million which beat the analyst consensus estimate of $49.06 million by 1.27 percent. This is a 47.72 percent decrease over sales of $95.03 million the same period last year.

Earnings Beats

Clearfield Q4 EPS $0.17 Beats $0.10 Estimate, Sales $49.69M Beat $49.06M Estimate

Buybacks

Clearfield Announces Increase To Share Repurchase Program From $22M To $40M

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.seeclearfield.com%2F&amp;esheet=53558611&amp;newsitemid=20230920480186&amp;lan=en-US&amp;anchor=Clearfield%2C+Inc&amp;index=1&amp;md5=93368fa742ec4d66677b384766a85586">Clearfield, Inc</a>. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLFD#NASDAQ">CLFD</a>), the leader in community broadband fibre connectivity, today announced the launch of its FieldShield blowable MPO fibre assemblies, the fibre industry&#39;s first pushable/blowable 12-fibre MPO pre-connectorized cable capable of blowing fibre over 1.5 km. Developed as part of the integration of&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.nestorcables.com%2F&amp;esheet=53558611&amp;newsitemid=20230920480186&amp;lan=en-US&amp;anchor=Nestor+Cables%2C+Ltd&amp;index=2&amp;md5=f5e9746907b484389f6fc45b14075680">Nestor Cables, Ltd</a>&nbsp;(&quot;Nestor&quot;), a subsidiary of Clearfield, the new solution will be on display at Clearfield&#39;s and Nestor&#39;s common stand at&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.terrapinn.com%2Fconference%2Fconnected-britain%2Findex.stm&amp;esheet=53558611&amp;newsitemid=20230920480186&amp;lan=en-US&amp;anchor=Connected+Britain+2023&amp;index=3&amp;md5=33026dc09447ae3aa9504bcdbdf5d678">Connected Britain 2023</a>.

Clearfield's Innovative FieldShield MPO Fibre Assemblies Set to Redefine Broadband Connectivity

In a report released today, Ryan Koontz from Needham maintained a Buy rating on Clearfield (CLFD – Research Report), with a price target of $36.00....

Clearfield's Resilience and Long-Term Growth Prospects Affirm Buy Rating Despite Near-Term Challenges