Zacks Investment Research upgraded shares of Monotype Imaging (NASDAQ:TYPE) from a hold rating to a strong-buy rating in a report issued on Thursday, Zacks.com reports. Zacks Investment Research currently has $23.00 price target on the software maker’s stock.
According to Zacks, “Monotype is a leader in empowering expression and engagement through a combination of type, technology and expertise. Headquartered in Woburn, Mass., Monotype provides customers worldwide with typeface solutions for a broad range of creative applications and consumer devices. The company’s libraries and e-commerce sites are home to many of the most widely used typefaces – including the Helvetica, Frutiger and Univers families – as well as the next generation of type designs. Monotype provides the design assets, technology and expertise that help you create beautiful, authentic and impactful brands that customers will engage with and value, wherever they experience your brand, now and in the future. Their fonts and technologies are designed to enable creative expression and give brands a distinct global voice. They are behind the text you read in newspapers and books, in the apps on your phone, in the websites you browse, on the dashboard you scan, on the goods you buy, and in the games you play. “
Other research analysts also recently issued research reports about the stock. Dougherty & Co downgraded shares of Monotype Imaging from a buy rating to a neutral rating in a research report on Friday, July 26th. TheStreet downgraded shares of Monotype Imaging from a b- rating to a c rating in a research report on Friday, May 3rd. BidaskClub downgraded shares of Monotype Imaging from a hold rating to a sell rating in a research report on Friday, July 26th. JPMorgan Chase & Co. set a $20.00 price objective on shares of Monotype Imaging and gave the stock a hold rating in a research report on Friday, April 26th. Finally, ValuEngine raised shares of Monotype Imaging from a sell rating to a hold rating in a research report on Saturday, July 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $20.17.
NASDAQ TYPE traded down $0.04 during trading on Thursday, reaching $19.88. 509,007 shares of the company’s stock traded hands, compared to its average volume of 671,836. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.32 and a current ratio of 2.30. The stock has a market cap of $822.47 million, a price-to-earnings ratio of 25.49 and a beta of 1.00. The company has a 50 day simple moving average of $17.45. Monotype Imaging has a 12-month low of $15.29 and a 12-month high of $22.30.
Monotype Imaging (NASDAQ:TYPE) last posted its earnings results on Friday, July 26th. The software maker reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.19. The business had revenue of $63.24 million for the quarter, compared to the consensus estimate of $57.35 million. Monotype Imaging had a net margin of 10.28% and a return on equity of 10.65%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 EPS. As a group, analysts predict that Monotype Imaging will post 1.02 earnings per share for the current year.
Several institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Monotype Imaging by 3.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,568,675 shares of the software maker’s stock worth $24,346,000 after buying an additional 55,594 shares during the last quarter. Norges Bank purchased a new position in shares of Monotype Imaging in the 4th quarter worth approximately $12,965,000. Bank of New York Mellon Corp boosted its stake in Monotype Imaging by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 633,144 shares of the software maker’s stock worth $9,826,000 after purchasing an additional 7,488 shares in the last quarter. Geode Capital Management LLC boosted its stake in Monotype Imaging by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 478,540 shares of the software maker’s stock worth $7,426,000 after purchasing an additional 21,081 shares in the last quarter. Finally, Martingale Asset Management L P boosted its stake in Monotype Imaging by 43.2% in the 1st quarter. Martingale Asset Management L P now owns 307,185 shares of the software maker’s stock worth $6,111,000 after purchasing an additional 92,627 shares in the last quarter. 89.33% of the stock is currently owned by hedge funds and other institutional investors.
Monotype Imaging Company Profile
Monotype Imaging Holdings Inc develops, markets, and licenses technologies and fonts in the United States, Europe, the Middle East, Africa, Japan, and internationally. The company's solutions include type intellectual property (IP), enterprise software for visual content marketing solutions, custom type design services, and tools and technologies through direct sales channels, e-commerce platforms, and partner platforms.
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