There’s a lot to be optimistic about in the Services sector as 2 analysts just weighed in on 21st Century Fox (NASDAQ:FOXA) and PRGX Global (NASDAQ:PRGX) with bullish sentiments.
21st Century Fox (FOXA)
B.Riley FBR analyst Barton Crockett reiterated a Buy rating on 21st Century Fox yesterday and set a price target of $50. The company’s shares opened today at $45.41.
Crockett observed:
“For Fox investors, quarterly earnings do not matter too much now, with the bulk of the value of the company embedded in the agreement to sell the bulk of Fox to Disney. Yet it is notable that Fox, like Disney earlier this week, spoke of more stability in traditional MVPDs and continuing growth in vMVPDs. Fox, in fact, said that revenues from growth in vMVPDs is exceeding declines from traditional MVPDs. The question is whether this is a blip or the beginning of a new trend.”
According to TipRanks.com, Crockett is a 4-star analyst with an average return of 4.9% and a 55.0% success rate. Crockett covers the Services sector, focusing on stocks such as Liberty Media Corporation Series A Liberty SiriusXM Common Stock, Lions Gate Ent Corp Cl A, and Qurate Retail Group Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for 21st Century Fox with a $49.78 average price target, which is a 9.6% upside from current levels. In a report issued on August 7, Buckingham also maintained a Buy rating on the stock with a $52 price target.
.
See today’s analyst top recommended stocks >>
PRGX Global (PRGX)
In a report released today, Kevin Liu from B.Riley FBR maintained a Buy rating on PRGX Global, with a price target of $12. The company’s shares opened today at $9.05.
Liu observed:
“PRGX Global (PRGX) reported 2Q results ahead of our estimates and consensus. Revenues from both the RAS-Americas (“Americas”) and Adjacent Services segments outpaced our expectations with the former driven by double-digit growth in retail audits and the latter by completed advisory engagements and new SaaS wins. RAS-Europe/Asia Pacific (“EAP”) revenues were in line with our estimate, reflecting continued strength in commercial audits. Gross margin was above our assumption as higher contribution from both EAP and Adjacent Services more than offset lower margin in the Americas. Operating expenses were above our estimate, in part due to one-time transformation severance expenses not reflected in our model, but also coinciding with an ongoing ramp in sales and marketing headcount.”
According to TipRanks.com, Liu is a 5-star analyst with an average return of 13.8% and a 64.2% success rate. Liu covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Tyler Technologies, and American Software.
Currently, the analyst consensus on PRGX Global is a Moderate Buy with an average price target of $12.50, a 38.1% upside from current levels. In a report issued on August 7, Barrington also maintained a Buy rating on the stock.
.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
