Fiserv Given New $100.00 Price Target at Deutsche Bank (FISV)
Analysts at Deutsche Bank hoisted their price objective on shares of Fiserv (NASDAQ:FISV) from $95.00 to $100.00 in a research report issued to clients and investors on Wednesday, AR Network reports. The firm currently has a “hold” rating on the stock. Deutsche Bank’s price objective points to a potential downside of 10.02% from the stock’s previous close.
The analysts wrote, “Limited revenue growth in short term. At its Analyst Day today in NYC, FISV reiterated FY13 and long-term guidance and focused on longer term growth opportunities from increased backlog driven by higher TCV (up 38% in 2013 compared to 2010) and ability to up-sell channel and payment solutions. Despite anniversary of headwinds from large client renewals, the internal revenue growth is only expected to slightly improve from 3% in FY14 due to slower conversion of longer-term deals. In addition, growth initiatives including Mobiliti and PopMoney are still in early stages in terms of revenue contribution and the growth in Bill Payments and debit is offset by item processing and other potential headwinds. We are raising our target price to $100 as the model has been revalued for consistency of cash flow and EPS growth; however, maintain hold as the shares appear fully valued trading at 11x our FY14E EV/EBITDA given the relatively anemic internal revenue growth.”
Fiserv (NASDAQ:FISV) traded down 0.58% on Wednesday, hitting $110.49. 303,086 shares of the company’s stock traded hands. Fiserv has a 52 week low of $78.04 and a 52 week high of $116.37. The stock has a 50-day moving average of $107.6 and a 200-day moving average of $98.37. The company has a market cap of $14.250 billion and a P/E ratio of 24.58.
Fiserv (NASDAQ:FISV) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.05. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the company posted $1.26 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts expect that Fiserv will post $6.00 EPS for the current fiscal year.
In other Fiserv news, EVP Michael Gianoni unloaded 4,742 shares of the stock on the open market in a transaction dated Thursday, December 5th. The shares were sold at an average price of $108.66, for a total transaction of $515,265.72. Following the completion of the transaction, the executive vice president now directly owns 19,111 shares in the company, valued at approximately $2,076,601. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of other firms have also recently commented on FISV. Analysts at Barclays raised their price target on shares of Fiserv from $120.00 to $130.00 in a research note to investors on Wednesday. They now have an “overweight” rating on the stock. Separately, analysts at Argus raised their price target on shares of Fiserv from $115.00 to $125.00 in a research note to investors on Tuesday, November 26th. They now have a “buy” rating on the stock. Finally, analysts at Sterne Agee reiterated a “buy” rating on shares of Fiserv in a research note to investors on Monday, October 28th. They now have a $120.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $106.47.
Fiserv, Inc (NASDAQ:FISV) is a global provider of financial services technology.
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