Oppenheimer analyst Timothy Horan maintained a Buy rating on Interxion Holding NV (INXN) today and set a price target of $73. The company’s shares closed yesterday at $71.21, close to its 52-week high of $71.83.
Horan wrote:
“INXN continues to show momentum, growing top line 14%. Adj. EBITDA was €77.3M, in line with our estimate, up 27%, EPS of €0.12, missed our estimate; both were affected by new accounting standards that shifted rent expense to depreciation and interest. Equipped space additions failed to meet our estimate (3.5K sq. meters vs. our 8K estimate), but this number is lumpy and subject to timing. Positively, utilization ticked up to 80%, from 79% last quarter and recurring revenue per sq. meter increase by 0.5% Q/Q to €414. INXN maintained guidance with strong capex spend, a strong signal that there is still a long runway for growth in Europe. In the quarter, capex increased to 95% of revenues, from 86% in 4Q18 and 72% in 1Q18.”
According to TipRanks.com, Horan is a top 25 analyst with an average return of 17.4% and a 76.4% success rate. Horan covers the Technology sector, focusing on stocks such as Boingo Wireless Inc, Limelight Networks, and GTT Communications.
Currently, the analyst consensus on Interxion Holding NV is a Strong Buy with an average price target of $74.50.
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The company has a one-year high of $71.83 and a one-year low of $50.05. Currently, Interxion Holding NV has an average volume of 568.4K.
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InterXion Holding NV engages in the provision of carrier and cloud-neutral data centre services. It operates through the following business segments: Big4, Rest of Europe, and Corporate and Other. The Big4 segment is comprised of France, Germany, the Netherlands, and the United Kingdom.
