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Vodafone (VOD) was downgraded to a Sell Rating at Bank of America Securities

Tipranks - Wed May 27, 9:48AM CDT

Bank of America Securities analyst David Wright downgraded Vodafone to a Sell today and set a price target of p98.00.

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According to TipRanks, Wright is a 2-star analyst with an average return of 0.2% and a 54.02% success rate. Wright covers the Communication Services sector, focusing on stocks such as Liberty Global A, BT Group plc, and Vodafone.

In addition to Bank of America Securities, Vodafone also received a Sell from Goldman Sachs’s Andrew Lee in a report issued on May 13. However, on the same day, DZ BANK AG downgraded Vodafone (LSE: VOD) to a Hold.

Based on Vodafone’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of p20.83 billion and a GAAP net loss of p1.22 billion. In comparison, last year the company earned a revenue of p19.17 billion and had a GAAP net loss of p5.23 billion

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VOD in relation to earlier this year.

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