Northland Securities Thinks Zix’s Stock is Going to Recover


In a report released today, Nehal Chokshi from Northland Securities reiterated a Buy rating on Zix (ZIXI), with a price target of $8.00. The company’s shares closed last Thursday at $3.61, close to its 52-week low of $2.84.

According to TipRanks.com, Chokshi is a 2-star analyst with an average return of -0.8% and a 41.6% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.

Zix has an analyst consensus of Strong Buy, with a price target consensus of $10.25, implying a 167.6% upside from current levels. In a report issued on March 27, Craig-Hallum also initiated coverage with a Buy rating on the stock with a $9.00 price target.

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Based on Zix’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $50.38 million and GAAP net loss of $3.08 million. In comparison, last year the company earned revenue of $18.45 million and had a net profit of $9.26 million.

Based on the recent corporate insider activity of 33 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 ZIXI in relation to earlier this year. Most recently, in February 2020, Richard Spurr, a Director at ZIXI sold 46,875 shares for a total of $423,750.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Zix Corp. provides an email encryption and security solutions. Its services enable the use of secure email for sensitive information exchange primarily in the healthcare, financial services, insurance and government sectors. The company products include Zixencrypt, Zixprotech, Zixmail, Zixarchive and Zixone. Zix Corp was founded in 1988 and is headquartered in Dallas, TX.

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