Needham Cuts Coherent (COHR) Price Target to $380
Key Points
- Needham reduced its price target for Coherent Corp. from $420 to $380, keeping a Buy rating in place.
- Needham's $380 price target implies 71.52% upside from Coherent Corp.'s ($COHR) current $221.55 share price.
- The stock recently traded around $221.55, which is about equal to its closing price of $221.50 on October 26, 2026.
- Coherent Corp. has a market cap of about $43.6 billion and reported trailing revenue of approximately $7.12 billion.
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On October 27, 2026, Needham lowered its price target on Coherent Corp. (NYSE: COHR) from $420 to $380 while maintaining a Buy rating. This change reflects the firm's updated outlook for the company amid a challenging market environment. The recent closing price was $221.50 on October 26, 2026.
COHR
Coherent Corp.
Needham vs. the S&P 500
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Needham's Call on Coherent Corp.
Needham's new target of $380 suggests a significant upside from the recent trading price, which was about equal to its event close. The firm's decision to maintain a Buy rating indicates it still sees potential in Coherent despite the lowered target. The previous target of $420 was likely influenced by more optimistic market conditions, which have since shifted.
Other Institutional Activity in Coherent Corp.
Several other institutional investors have also been active in Coherent Corp. Lanark Financial grew its holdings by 2,513 shares, bringing its total to 8,941 shares worth about $2.57 million. Gf Fund Management holds 37,466 shares valued at approximately $10.78 million. Capital International Investors increased its stake by 1,800,280 shares, ending with 3,600,561 shares valued at about $797.5 million.
Coherent Corp. Stock Up 5.9%
Coherent Corp. shares recently traded around $221.55, which is significantly below both its 50-day moving average of $285.82 and its 200-day moving average of $295.59. The stock is also down about 49.6% from its 52-week high of $440.00, showing it is struggling compared to its past performance.
$COHR price target
Coherent Corp. daily closes and this analyst's $380 target. Not advice.
Recent Earnings
Coherent Corp. reported trailing revenue of $7.12 billion and an earnings per share (EPS) of $4.12. The company has shown a year-over-year revenue growth of 33.7%. Its next earnings report is scheduled for November 4, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
3 analysts raised price targets.
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EPS & revenue
EPS missed estimates by 1.1%. Revenue missed estimates by 0.5%.
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Profit surprise
EBITDA missed by 59 percent. Operating income missed by 63 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
3 target raises.
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Earnings quality
Gross margin up 2.4 points. Operating margin down 1.5 points. Positive free cash flow.
Earnings Call Summary
Coherent reported $1.81 billion in revenue for the first quarter, up 19 percent year over year on a pro forma basis. The company is experiencing record orders and exceptionally strong demand across its datacenter and communications businesses, driven by AI data center expansion and optical networking adoption. Management is aggressively ramping indium phosphide laser production capacity at two sites and expects to double capacity over the next year, with six-inch production yields exceeding three-inch lines.
Guidance Management expects second quarter revenue between $1.56 billion and $1.7 billion, with datacom growing 10 percent sequentially from supply improvement. Gross margin is projected between 38 and 40 percent, and EPS between $1.10 and $1.30 per share.
Fine but not compelling. Acceptable results that likely do not create a meaningful forward reset.
Insider Buying and Selling at Coherent Corp.
Recent insider sales included Chief Technology Officer Julie Sheridan Eng, who sold 13,077 shares valued at approximately $3.58 million on September 1, 2026. Director Lisa Neal-Graves sold 2,200 shares at an average price of $268.42, totaling about $590,524 on September 2, 2026. Other insiders also sold shares during this period, indicating some movement among company executives.
Analysts Set New Price Targets
On the same day as Needham's update, other analysts have also been adjusting their targets. For instance, TD Cowen maintained a Buy rating while lowering its target from $395 to $275 on October 19, 2026. Additionally, Susquehanna adjusted its target from $425 to $350 on October 21, 2026. The consensus among analysts gives Coherent a mean price target of approximately $396, with 25 opinions suggesting a Buy rating.
About Coherent Corp.
Coherent Corp. develops and manufactures lasers and other optical devices used in various applications, including telecommunications and industrial processes. The company is based in Saxonburg, Pennsylvania, and employs around 51,478 people. Coherent's innovative products play a crucial role in advancing optical technologies worldwide.
Bottom Line
Investors should monitor Coherent Corp.'s upcoming earnings report on November 4, 2026, for insights into its financial health amid market fluctuations. The reduced price target from Needham highlights ongoing adjustments in analyst sentiment as the company navigates current market challenges.
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Source: Needham's rating change on $COHR (Oct 27, 2026). Written by software, not financial advice. How we make alerts