Zacks Downgrades Lionbridge Technologies to Neutral (LIOX)
Lionbridge Technologies (NASDAQ:LIOX) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a note issued to investors on Wednesday, AR Network reports. They currently have a $4.10 target price on the stock. Zacks‘ price target would suggest a potential upside of 14.53% from the stock’s previous close.
Lionbridge Technologies (NASDAQ:LIOX) traded up 0.28% on Wednesday, hitting $3.59. The stock had a trading volume of 147,920 shares. Lionbridge Technologies has a 52-week low of $2.16 and a 52-week high of $4.25. The stock has a 50-day moving average of $3.61 and a 200-day moving average of $3.31. The company has a market cap of $218.0 million and a price-to-earnings ratio of 27.75.
Lionbridge Technologies (NASDAQ:LIOX) last announced its earnings results on Tuesday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. The company had revenue of $123.40 million for the quarter, compared to the consensus estimate of $121.28 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. Analysts expect that Lionbridge Technologies will post $0.07 EPS for the current fiscal year.
Separately, analysts at Noble Financial raised their price target on shares of Lionbridge Technologies from $4.00 to $5.00 in a research note to investors on Wednesday, August 7th. Two analysts have rated the stock with a hold rating, Lionbridge Technologies presently has an average rating of “Hold” and a consensus target price of $4.09.
In other Lionbridge Technologies news, major shareholder Glenhill Advisors Llc bought 175,000 shares of Lionbridge Technologies stock on the open market in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of $3.74 per share, with a total value of $654,500.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Lionbridge Technologies, Inc (NASDAQ:LIOX), is a provider of language, content and testing solutions that enable clients to optimize, release, manage, test and maintain their technology applications and content in global markets.
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