Piper Sandler Lowers IBEX (NASDAQ:IBEX) Price Target to $18.00

IBEX (NASDAQ:IBEX) had its price target dropped by analysts at Piper Sandler from $21.00 to $18.00 in a report issued on Thursday, The Fly reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 27.57% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada decreased their price objective on shares of IBEX from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, November 23rd. Citigroup cut their target price on shares of IBEX from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, November 24th. Finally, Zacks Investment Research downgraded shares of IBEX from a “hold” rating to a “sell” rating in a research report on Wednesday, November 24th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $22.00.

IBEX stock opened at $14.11 on Thursday. The company has a 50 day moving average price of $14.68 and a 200 day moving average price of $17.39. IBEX has a 52 week low of $10.77 and a 52 week high of $25.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.27 and a current ratio of 1.27. The firm has a market capitalization of $260.64 million, a price-to-earnings ratio of 28.80 and a beta of 1.56.

IBEX (NASDAQ:IBEX) last posted its quarterly earnings data on Monday, November 22nd. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.22). IBEX had a return on equity of 23.52% and a net margin of 2.09%. The firm had revenue of $108.57 million during the quarter, compared to analyst estimates of $112.96 million. During the same period in the prior year, the business posted $0.31 EPS. Equities analysts forecast that IBEX will post 0.85 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG raised its holdings in shares of IBEX by 3.7% during the 2nd quarter. Deutsche Bank AG now owns 18,684 shares of the company’s stock valued at $365,000 after purchasing an additional 666 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of IBEX by 10.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 12,686 shares of the company’s stock valued at $215,000 after purchasing an additional 1,227 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of IBEX by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 53,562 shares of the company’s stock valued at $1,045,000 after purchasing an additional 1,526 shares in the last quarter. Boston Partners grew its stake in IBEX by 1.3% in the 2nd quarter. Boston Partners now owns 152,168 shares of the company’s stock valued at $2,970,000 after buying an additional 1,918 shares during the last quarter. Finally, Millennium Management LLC grew its stake in IBEX by 5.3% in the 3rd quarter. Millennium Management LLC now owns 41,000 shares of the company’s stock valued at $697,000 after buying an additional 2,073 shares during the last quarter. Institutional investors and hedge funds own 24.68% of the company’s stock.

IBEX Company Profile

IBEX Limited provides end-to-end technology-enabled customer lifecycle experience solutions in the United States and internationally. The company provides ibex Connect, a customer engagement solution comprises customer service, technical support, and other value-added outsourced back office services through voice, email, chat, SMS, social media and other communication applications; ibex Digital, a customer acquisition solution that offers search, social, and display advertising capabilities; and ibex CX, a customer experience solution, which provides a comprehensive suite of proprietary software tools to measure, monitor and manage its clients' customer experience.

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