Flex (NASDAQ:FLEX) Updates FY25 Earnings Guidance

Flex (NASDAQ:FLEX) updated its FY25 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.39-2.51 for the period, compared to the consensus earnings per share estimate of $2.40. The company issued revenue guidance of $24.90-25.50 billion, compared to the consensus revenue estimate of $25.79 billion. Flex also updated its FY 2025 guidance to 2.390-2.510 EPS.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. KeyCorp assumed coverage on shares of Flex in a report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 target price on the stock. The Goldman Sachs Group set a $39.00 target price on shares of Flex in a report on Thursday, October 17th. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Tuesday. Barclays increased their price target on shares of Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. increased their price target on shares of Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Flex has a consensus rating of “Buy” and an average target price of $40.83.

Flex Price Performance

Shares of NASDAQ:FLEX traded up $0.81 during trading on Friday, reaching $35.48. The company had a trading volume of 3,604,200 shares, compared to its average volume of 4,162,805. Flex has a 12 month low of $21.84 and a 12 month high of $36.98. The stock has a market capitalization of $14.09 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 2.11 and a beta of 1.09. The company has a fifty day moving average of $32.76 and a two-hundred day moving average of $31.13. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.53.

Insider Activity

In other news, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $35.39, for a total value of $284,110.92. Following the completion of the sale, the insider now owns 240,018 shares of the company’s stock, valued at approximately $8,494,237.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $35.39, for a total value of $284,110.92. Following the completion of the sale, the insider now owns 240,018 shares of the company’s stock, valued at approximately $8,494,237.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Scott Offer sold 10,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $32.95, for a total transaction of $329,500.00. Following the sale, the executive vice president now directly owns 158,094 shares of the company’s stock, valued at $5,209,197.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,028 shares of company stock valued at $933,511. Corporate insiders own 0.82% of the company’s stock.

About Flex

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.