In a report released today, Zach Cummins from B.Riley FBR reiterated a Buy rating on Monotype (NASDAQ: TYPE), with a price target of $31. The company’s shares opened today at $17.61, close to its 52-week low of $17.50.
Cummins said:
“Monotype Imaging Holdings (TYPE) reports 3Q18 results before the market opens on and will host its quarterly earnings call at 8:30am ET (Dial-in: Passcode: 7753149). We are modeling revenues and adjusted EBITDA within management’s guidance, but fractionally lower than Street estimates. While we prefer our slightly more conservative estimates, we have no qualms with TYPE’s ability to achieve the Street’s estimates. We project mid-single-digit growth in the Creative Professional (CP) segment as we expect the strong growth in enterprise sales will be somewhat offset by lower contribution from Olapic and the sunsetting of several non-core products related to the company’s previously announced efficiency plan.”
According to TipRanks.com, Cummins is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -17.0% and a 10.5% success rate. Cummins covers the Technology sector, focusing on stocks such as ServiceSource International Inc, Cornerstone Ondemand, and American Software.
Currently, the analyst consensus on Monotype is a Moderate Buy with an average price target of $31.
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The company has a one-year high of $26.75 and a one-year low of $17.50. Currently, Monotype has an average volume of 243.7K.
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Monotype Imaging Holdings, Inc. engages in the development, marketing, and licensing of technologies and fonts for creative professionals and consumer device manufacturers. It operates through the following geographical segments: United States, United Kingdom, Germany, Japan, and Other Asia.
