Finjan (NASDAQ:FNJN) Lifted to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Finjan (NASDAQ:FNJN) from a hold rating to a buy rating in a research note issued to investors on Monday morning, Zacks.com reports. Zacks Investment Research currently has $2.50 price objective on the software maker’s stock.

According to Zacks, “Finjan Holdings, Inc. operates as an online security and technology company primarily in the United States. It owns a portfolio of patents related to software that detects malicious code and protects end-users from identity and data theft, spyware, malware, phishing, Trojans and other online threats. Finjan Holdings Inc., formerly known as Converted Organics Inc., is based in New York. “

A number of other research firms also recently issued reports on FNJN. ValuEngine raised Finjan from a hold rating to a buy rating in a research report on Thursday, August 1st. B. Riley set a $5.00 target price on Finjan and gave the stock a buy rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $3.75.

NASDAQ:FNJN opened at $2.07 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.74 and a quick ratio of 5.56. The business has a fifty day simple moving average of $2.20 and a two-hundred day simple moving average of $2.70. Finjan has a 1 year low of $1.96 and a 1 year high of $5.54. The company has a market capitalization of $57.46 million, a P/E ratio of 2.96 and a beta of 0.36.

Finjan (NASDAQ:FNJN) last released its earnings results on Thursday, August 8th. The software maker reported ($0.07) earnings per share (EPS) for the quarter. The business had revenue of $7.25 million during the quarter, compared to analyst estimates of $7.25 million. As a group, analysts anticipate that Finjan will post 0.2 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Alpine Global Management LLC lifted its stake in Finjan by 243.1% during the second quarter. Alpine Global Management LLC now owns 739,685 shares of the software maker’s stock worth $1,642,000 after purchasing an additional 524,118 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Finjan during the second quarter worth about $493,000. Summit Securities Group LLC lifted its stake in Finjan by 227.3% during the first quarter. Summit Securities Group LLC now owns 270,500 shares of the software maker’s stock worth $793,000 after purchasing an additional 187,855 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in Finjan during the fourth quarter worth about $254,000. Finally, Dimensional Fund Advisors LP lifted its stake in Finjan by 7.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,207,345 shares of the software maker’s stock worth $3,030,000 after purchasing an additional 81,697 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

About Finjan

Finjan Holdings, Inc, a cybersecurity company, provides intellectual property licensing and enforcement services in the United States and internationally. The company owns a portfolio of patents related to software and hardware technologies that proactively detect malicious code and thereby protects end users from identity and data theft, spyware, malware, phishing, Trojans, and other Web and network threats.

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