In a report released today, Allen Klee from Maxim Group reiterated a Buy rating on Ebix Inc (NASDAQ: EBIX), with a price target of $113. The company’s shares closed on Friday at $58.96, close to its 52-week low of $57.66.
Klee wrote:
“On Friday, we hosted a conference call with EBIX’s Chairman, CEO, and President Robin Raina, who went into significant detail on various initiatives in India.”
According to TipRanks.com, Klee has 0 stars on 0-5 star ranking scale with an average return of -7.4% and a 27.3% success rate. Klee covers the Technology sector, focusing on stocks such as Helios & Matheson North America Inc, Net 1 Ueps, and Stampscom.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ebix Inc with a $102.67 average price target, which is a 74.1% upside from current levels. In a report issued on October 8, Craig-Hallum also reiterated a Buy rating on the stock with a $110 price target.
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Ebix Inc’s market cap is currently $1.86B and has a P/E ratio of 17.6. The company has a Price to Book ratio of 3.72.
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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.
