Keysight (KEYS) posts upbeat Q3, issues strong Q4 guidance

Keysight Technologies Inc. (NYSE: KEYS ) on Tuesday reported better-than-expected third-quarter financial results and issued strong fourth-quarter guidance. The company reported adjusted earnings of $3.07 per share, which beat the $2.48 analyst consensus estimate, according to Pro data. Quarterly revenue came in at $1.85 billion, which beat the Street estimate of $1.74 billion. "Keysight’s record Q3 results and outlook reflect the growing relevance of our strategy and portfolio, which is enabling customers to solve complex engineering challenges across our end markets," said Satish Dhanasekaran, Keysight’s president and CEO. Keysight expects fourth-quarter adjusted EPS of $3.34 to $3.40, versus the $2.70 analyst estimate, and revenue in a range of $1.93 billion to $1.95 billion, versus the $1.81 billion estimate. Keysight shares dipped 6.1% to trade at $320.13 on Wednesday. These analysts made changes to their price targets on Keysight following earnings announcement. Baird analyst Richard Eastman maintained the stock with an Outperform rating and raised the price target from $385 to $410. Susquehanna analyst Mehdi Hosseini maintained the stock with a Positive and raised the price target from $425 to $440. Wells Fargo analyst Aaron Rakers maintained the stock with an Overweight rating and raised the price target from $390 to $405. Barclays analyst Tim Long maintained the stock with an Overweight rating and boosted the price target from $387 to $429. Truist Securities analyst Matthew Niknam maintained the stock with a Hold and raised the price target from $376 to $400. Considering buying KEYS stock? Here’s what analysts think: Photo via Shutterstock