In a report released today, Timothy Horan from Oppenheimer maintained a Buy rating on Interxion Holding NV (NYSE: INXN), with a price target of $70. The company’s shares opened today at $65.20, close to its 52-week high of $67.19.
Horan wrote:
“Revenue growth rates have remained strong across Europe and INXN is seeing opportunities across the deal size spectrum. Customer churn is low and pricing is stable; and we expect price increases starting next year. Enterprises need highly interconnected datacenters to succeed in their digital transformations. The more connections with partners, suppliers and customers, the more valuable the datacenter for the enterprise and the rationale behind INXN’s communities of interest. Both INXN and EQIX are trading at about 15.5x our 2019E EBITDA, with INXN growing 50% faster, and with a take over potential.”
According to TipRanks.com, Horan is a top 25 analyst with an average return of 16.8% and a 75.5% success rate. Horan covers the Technology sector, focusing on stocks such as Boingo Wireless Inc, Zayo Group Holdings, and GTT Communications.
Currently, the analyst consensus on Interxion Holding NV is a Strong Buy with an average price target of $72.14.
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Based on Interxion Holding NV’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $14.33 million. In comparison, last year the company had a net profit of $11.39 million.
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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.
