In a report released today, Zach Cummins from B.Riley FBR maintained a Buy rating on PRGX Global (PRGX), with a price target of $12. The company’s shares closed yesterday at $8.02.
Cummins commented:
“PRGX Global (PRGX) reported 1Q19 results after the market close on Tuesday, April 30. Revenues were in-line, but adjusted EBITDA was slightly below expectations due to elevated SG&A expenses, some of which were non-recurring in nature and were not included in our model. Excluding the non-recurring expenses, adjusted EBITDA would have been in line with the Street and higher than our model. From a segment perspective, RAS-Americas (“Americas”) and Adjacent Services were modestly above our model, but were offset by lower RAS-Europe/ APAC (“EAP”) revenues. On a constant currency basis, EAP revenues were consistent with our projection. More importantly, strong execution by the sales team enabled PRGX to closed 34 new engagements in 1Q, which exceeded management’s quarterly sales growth goal.”
According to TipRanks.com, Cummins has 0 stars on 0-5 star ranking scale with an average return of -8.7% and a 36.0% success rate. Cummins covers the Technology sector, focusing on stocks such as ServiceSource International Inc, ChannelAdvisor, and Computer Task.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PRGX Global with a $12.50 average price target, a 55.9% upside from current levels. In a report issued on April 29, Barrington also maintained a Buy rating on the stock with a $13 price target.
See today’s analyst top recommended stocks >>
PRGX Global’s market cap is currently $186M and has a P/E ratio of 43.33. The company has a Price to Book ratio of 2.80.
Based on the recent corporate insider activity of 32 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 PRGX in relation to earlier this year.
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.
PRGX Global, Inc. is a business analytics and information services company. It operates through following segments: Recovery Audit Services-Americas, Recovery Audit Services-Europe/Asia-Pacific, and Adjacent Services. The Recovery Audit Services -Americas segment provides recovery audit services in U.S., Canada and Latin America.
