iGATE Corp. Reaches New 12-Month High at $28.86 (IGTE)
iGATE Corp. (NASDAQ:IGTE)’s share price reached a new 52-week high on Monday, Analyst Ratings.Net reports. The company traded as high as $28.86 and last traded at $27.00, with a volume of 384,071 shares traded. The stock had previously closed at $28.06.
A number of research firms have recently commented on IGTE. Analysts at Janney Montgomery Scott upgraded shares of iGATE Corp. (NASDAQ:IGTE) from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, September 11th. They now have a $30.00 price target on the stock, up previously from $20.00. They noted that the move was a valuation call. Separately, analysts at Sidoti upgraded shares of iGATE Corp. (NASDAQ:IGTE) from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, August 28th. Finally, analysts at Zacks downgraded shares of iGATE Corp. (NASDAQ:IGTE) from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, August 16th. They now have a $26.30 price target on the stock.
Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $24.38.
iGATE Corp. has a 52 week low of $13.98 and a 52 week high of $28.86. The stock has a 50-day moving average of $23.6 and a 200-day moving average of $18.84. The company has a market cap of $1.570 billion and a P/E ratio of 25.49.
iGATE Corp. (NASDAQ:IGTE) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.34 by $0.10. The company had revenue of $283.30 million for the quarter, compared to the consensus estimate of $279.28 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts expect that iGATE Corp. will post $1.79 EPS for the current fiscal year.
iGATE Corporation (NASDAQ:IGTE) is an outsourcing provider of integrated end-to-end offshore centric information technology (IT) and IT-enabled operations solutions and services.
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