Oppenheimer Keeps a Buy Rating on Interxion Holding NV

Oppenheimer analyst Timothy Horan maintained a Buy rating on Interxion Holding NV (NYSE: INXN) today and set a price target of $68. The company’s shares closed yesterday at $65.10, close to its 52-week high of $65.75.

Horan noted:

“INXN reported a solid 1Q18. Revenue and adjusted EBITDA gew by 18%, but a touch below our aggressive estimates, likely due to timing of new space additions. Positively, CAPX spend was $95M, $10M higher than expected and up 75% YOY. Also, the company increased CAPX guidance by 8% two days ago, indicating continued very strong demand. Additions were generally in line in the quarter, but ARPU was a touch below our estimate, but still up 2% YOY. ARPU trends should improve given the strong demand environment as we explained in our datacenter white paper ( report here). We look for areas of strength on the call at 8:30 a.m. E nterprise hybrid cloud strategies are accelerating, driving cross-connect growth which INXN is now monetizing.”

According to TipRanks.com, Horan is a top 25 analyst with an average return of 15.6% and a 74.4% success rate. Horan covers the Technology sector, focusing on stocks such as Boingo Wireless Inc, Zayo Group Holdings, and Limelight Networks.

Interxion Holding NV has an analyst consensus of Strong Buy, with a price target consensus of $70.38.

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Based on Interxion Holding NV’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $153 million and quarterly net profit of $12.94 million. In comparison, last year the company earned revenue of $121 million and had a net profit of $11.52 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.