In a report released today, Allen Klee from Maxim Group maintained a Buy rating on Ebix Inc (NASDAQ: EBIX), with a price target of $113. The company’s shares closed yesterday at $76.95.
Klee noted:
“Upon review of the 2Q18 10-Q and factoring in full contributions from India, we raise our 2018 EPS estimate to $3.53, from $3.50. Our new estimates do not include any contributions for the two acquisitions that were announced, but not yet closed, which we estimate could add $0.28 in annualized EPS within six months after full integration. We remain positive on the growth outlook for the company’s various insurance exchanges, as well as its India and emerging markets segments. EBIX now trades at 17x our 2019 EPS estimate of $4.53. Our $113 price target is based on 25x our 2019 EPS estimate.”
According to TipRanks.com, Klee is a 2-star analyst with an average return of 0.7% and a 40.0% success rate. Klee covers the Technology sector, focusing on stocks such as Helios & Matheson North America Inc, Net 1 Ueps, and Stampscom.
Ebix Inc has an analyst consensus of Moderate Buy, with a price target consensus of $113.
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Ebix Inc’s market cap is currently $2.42B and has a P/E ratio of 22.97. The company has a Price to Book ratio of 4.85.
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Ebix, Inc. engages in the provision of software and e-commerce services to the insurance, finance, and healthcare industries. It operates through the following products and services: Exchanges; Broker P&C Systems; Risk Compliance Solutions; and Carrier P&C systems.
