Craig Hallum Increases Ebix, Inc. (EBIX) Price Target to $80.00

Ebix, Inc. (NASDAQ:EBIX) had its price objective hoisted by equities researchers at Craig Hallum to $80.00 in a note issued to investors on Thursday. The brokerage presently has a “buy” rating on the technology company’s stock. Craig Hallum’s target price would indicate a potential upside of 18.43% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Ebix from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Zacks Investment Research raised shares of Ebix from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, William Blair assumed coverage on shares of Ebix in a report on Wednesday, September 27th. They issued an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Ebix currently has a consensus rating of “Buy” and a consensus target price of $80.00.

Shares of Ebix (NASDAQ:EBIX) traded down 0.73% during trading on Thursday, hitting $67.55. The stock had a trading volume of 90,386 shares. Ebix has a 52 week low of $52.40 and a 52 week high of $68.15. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 22.00 and a beta of 1.79. The company’s 50 day moving average price is $63.25 and its 200 day moving average price is $58.73.

Ebix (NASDAQ:EBIX) last posted its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. The company had revenue of $87.39 million for the quarter, compared to analysts’ expectations of $81.35 million. Ebix had a net margin of 30.69% and a return on equity of 22.02%. Analysts predict that Ebix will post $3.05 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This piece was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece on another publication, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be viewed at https://www.dispatchtribunal.com/2017/10/28/craig-hallum-increases-ebix-inc-ebix-price-target-to-80-00.html.

Several large investors have recently bought and sold shares of EBIX. Riverhead Capital Management LLC raised its holdings in shares of Ebix by 69.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,865 shares of the technology company’s stock worth $101,000 after purchasing an additional 765 shares during the period. Mountain Capital Investment Advisors Inc bought a new stake in shares of Ebix in the 2nd quarter worth approximately $121,000. Victory Capital Management Inc. raised its holdings in shares of Ebix by 69.1% in the 1st quarter. Victory Capital Management Inc. now owns 2,229 shares of the technology company’s stock worth $137,000 after purchasing an additional 911 shares during the period. Pinebridge Investments L.P. raised its holdings in shares of Ebix by 1.1% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,867 shares of the technology company’s stock worth $154,000 after purchasing an additional 32 shares during the period. Finally, US Bancorp DE raised its holdings in shares of Ebix by 10.5% in the 2nd quarter. US Bancorp DE now owns 2,991 shares of the technology company’s stock worth $161,000 after purchasing an additional 285 shares during the period. 61.43% of the stock is currently owned by institutional investors.

Ebix Company Profile

Ebix, Inc (Ebix) is a supplier of software and e-commerce solutions to the insurance industry. Ebix provides application software products for the insurance industry, including carrier systems, agency systems and exchanges, as well as custom software development. Ebix conducts its operations through four channels, which include Exchanges, Carrier Systems, Broker Systems and Risk Compliance Solutions (RCS).

Receive News & Ratings for Ebix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ebix Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply