Oppenheimer analyst Shaul Eyal reiterated a Buy rating on Amdocs (NASDAQ: DOX) today and set a price target of $77. The company’s shares closed yesterday at $68.12.
Eyal said:
“For F2Q18 (Mar. ’18), DOX posted EPS/revenue of $0.95/$992M vs. the consensus estimate of $0.95/$981M. DOX saw double-digit revenue growth in Europe and record revenue from Rest of World. The company raised FY18 (Sept. ’18) revenue growth guidance and reiterated expectations for EPS growth of 4%-8%. Citing ongoing discussions, DOX noted encouraging signs of interest in NFV from its customers. The company closed its purchase of Vubiquity (for $224M in cash) in February and expects the acquisition to contribute more than 1% to FY18 revenue. DOX also acquired UXP Systems, a provider of user lifecycle management solutions, for $80M in cash. DOX expects both acquisitions to be neutral to FY18 (Sept. ’18) and accretive to FY19. We reiterate our Outperform rating and $77 price target.”
According to TipRanks.com, Eyal is a top 100 analyst with an average return of 15.2% and a 66.7% success rate. Eyal covers the Technology sector, focusing on stocks such as Nuance Communications, Verint Systems Inc, and Varonis Systems.
Amdocs has an analyst consensus of Moderate Buy, with a price target consensus of $79.50.
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Amdocs’ market cap is currently $9.77B and has a P/E ratio of 21.97. The company has a Price to Book ratio of 2.72.
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Amdocs Ltd. operates as a holding company, which engages in the provision of software and services solutions for communications, entertainment, and media industries. It specializes in the development, implementation, and management of software and services associate with business support systems, operational support systems, network solutions, and big data analytics to enable service providers introduce new products and services, process orders, monetize data, and support new business models. It operates through the following geographical segments: North America, Europe, and Rest of the World. The company was founded in 1988 and is headquartered in Chesterfield, MO.
