International Money Express (IMXI) Receives a Rating Update from a Top Analyst
In a report released today, Mark Palmer from BTIG reiterated a Buy rating on International Money Express (IMXI), with a price target of $22.00. The company’s shares closed last Tuesday at $15.09.
According to TipRanks.com, Palmer is a top 100 analyst with an average return of 16.3% and a 67.9% success rate. Palmer covers the Financial sector, focusing on stocks such as Genworth Financial, Oportun Financial, and MGIC Investment.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for International Money Express with a $18.60 average price target, implying a 10.9% upside from current levels. In a report issued on September 2, Northland Securities also assigned a Buy rating to the stock with a $18.00 price target.
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Based on International Money Express’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $77.25 million and net profit of $5.69 million. In comparison, last year the company earned revenue of $82.68 million and had a net profit of $7.07 million.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IMXI in relation to earlier this year.
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International Money Express, Inc. engages in the provision of electronic money remittance services. It offers wire transfer, money order and check cashing services. The company was founded in 1994 and is headquartered in Miami, FL.