iGATE Corp. Hits New 52-Week High at $30.82 (IGTE)
iGATE Corp. (NASDAQ:IGTE)’s share price reached a new 52-week high during trading on Thursday, StockRatingsNetwork.com reports. The stock traded as high as $30.82 and last traded at $29.89, with a volume of 1,005,197 shares traded. The stock had previously closed at $27.59.
A number of analysts have recently weighed in on IGTE shares. Analysts at Nomura downgraded shares of iGATE Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Friday, October 4th. Separately, analysts at Needham & Company raised their price target on shares of iGATE Corp. from $28.00 to $33.00 in a research note to investors on Thursday, September 19th. They now have a “buy” rating on the stock. Finally, analysts at Janney Montgomery Scott upgraded shares of iGATE Corp. 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $26.06.
iGATE Corp. has a 1-year low of $13.98 and a 1-year high of $28.86. The stock’s 50-day moving average is $25.98 and its 200-day moving average is $19.90. The company has a market cap of $1.753 billion and a P/E ratio of 25.06.
iGATE Corp. (NASDAQ:IGTE) last released its earnings data on Thursday, October 10th. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.43 by $0.03. The company had revenue of $293.40 million for the quarter, compared to the consensus estimate of $289.40 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. On average, analysts predict that iGATE Corp. will post $1.81 earnings per share 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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