Cantor Fitzgerald analyst Joseph Foresi maintained a Buy rating on International Money Express Inc (IMXI) today and set a price target of $14. The company’s shares opened today at $11.29.
Foresi noted:
“: We maintain our Overweight rating and lower our 12-month price target to $14 from $15, due to lower than expected revenue growth, leading to lower EBITDA. Quarterly top-line results were above our expectations. IMXI issued 2019 guidance below consensus. We believe the company’s targeted business model, which we view as a competitive advantage, will help it continue to gain market share in Latin America, the fastest-growing US remittance region. We think Intermex can produce mid-20% revenue growth with steady margins with an upward bias, resulting in significant annual earnings growth and an improving balance sheet.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 20.2% and a 86.5% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for International Money Express Inc with a $16 average price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $13.38 and a one-year low of $9.06. Currently, International Money Express Inc has an average volume of 66.43K.
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.
International Money Express, Inc. engages in the provision of electronic money remittance services. It offers wire transfer, money order, check cashing, and how to send money. The company was founded in 1994 and is headquartered in Miami, FL.
