B.Riley FBR analyst Sarkis Sherbetchyan maintained a Buy rating on Information Services Group (NASDAQ: III) today and set a price target of $6.50. The company’s shares opened today at $4.24.
Sherbetchyan observed:
“Group (III; $6.50 PT) reports 4Q17 (Dec) results after the market close on and will host its quarterly earnings conference call the following morning at 9:00AM ET (dial-in: conference ID: 9600997). We forecast revenues/ adjusted EBITDA/adjusted EPS of $67.0M/$5.1M/$0.04. The consensus calls for $67.8M/$6.5M/ $0.07, respectively. We expect results to be at least in line with our expectations as our model errs on the side of conservatism due to what is typically a seasonally soft 1Q (client demand builds-up from 1Q onwards). We anticipate III to reiterate its FY18 revenue/adjusted EBITDA outlook, which includes revenues of $285M-$292M and adjusted EBITDA of $35M-$37M. Our FY18 model stands at the low end of management’s outlook for both revenues and adj.”
According to TipRanks.com, Sherbetchyan is a 4-star analyst with an average return of 14.0% and a 69.4% success rate. Sherbetchyan covers the Consumer Goods sector, focusing on stocks such as Lightpath Technologies, Vishay Precision Group, and S&W Seed Company.
Currently, the analyst consensus on Information Services Group is Strong Buy and the average price target is $5.92, representing a 39.6% upside.
In a report released today, Barrington also maintained a Buy rating on the stock with a $6 price target.
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Based on Information Services Group’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $2.65 million. In comparison, last year the company had a GAAP net loss of $606K.
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Information Services Group, Inc. engages in the provision of sourcing advisory services.It operaets through the following geographical segments: Americas, Europe, and Asia Pacific. The company was founded by Michael P. Connors on July 20, 2006 and is headquartered in Stamford, CT.