Canaccord Genuity Increases Monotype Imaging Holdings Price Target to $31.00 (TYPE)
Equities researchers at Canaccord Genuity raised their target price on shares of Monotype Imaging Holdings (NASDAQ:TYPE) from $26.00 to $31.00 in a research report issued on Friday, AnalystRatings.Net reports. Canaccord Genuity’s price objective would suggest a potential upside of 11.99% from the company’s current price.
Monotype Imaging Holdings (NASDAQ:TYPE) traded down 1.91% during mid-day trading on Friday, hitting $27.68. 283,691 shares of the company’s stock traded hands. Monotype Imaging Holdings has a 52 week low of $13.55 and a 52 week high of $29.50. The stock has a 50-day moving average of $28.03 and a 200-day moving average of $25.45. The company has a market cap of $1.044 billion and a price-to-earnings ratio of 34.46.
Monotype Imaging Holdings (NASDAQ:TYPE) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25. The company had revenue of $40.50 million for the quarter, compared to the consensus estimate of $40.06 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Analysts expect that Monotype Imaging Holdings will post $1.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, January 22nd. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Monday, December 30th.
TYPE has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. downgraded shares of Monotype Imaging Holdings from an “overweight” rating to a “neutral” rating in a research note to investors on Friday. They now have a $30.00 price target on the stock, up previously from $28.50. Separately, analysts at Zacks reiterated a “hold” rating on shares of Monotype Imaging Holdings in a research note to investors on Thursday. They now have a $29.00 price target on the stock. Finally, analysts at Dougherty & Co raised their price target on shares of Monotype Imaging Holdings from $28.00 to $30.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Monotype Imaging Holdings currently has a consensus rating of “Hold” and an average target price of $29.00.
In other Monotype Imaging Holdings news, General Counsel Janet M. Dunlap unloaded 2,625 shares of the company’s stock on the open market in a transaction dated Monday, October 21st. The shares were sold at an average price of $28.94, for a total value of $75,967.50. The sale was disclosed in a filing with the SEC, which is available at this link.
Monotype Imaging Holdings Inc (NASDAQ:TYPE) is a provider of text imaging solutions.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.