Fiserv’s “Neutral” Rating Reaffirmed at Zacks (FISV)
Fiserv (NASDAQ:FISV)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Thursday, AnalystRatingsNetwork reports. They currently have a $62.00 target price on the stock. Zacks‘ price objective would indicate a potential upside of 5.00% from the company’s current price.
Zacks‘ analyst wrote, “Fiserv reported a mixed third quarter, missing the Zacks Consensus Estimate for the top line. However, the company provided positive fourth-quarter guidance and reiterated its long-term outlook. Fiserv has expanded its foothold in the financial and payment solutions business supported by its broad customer base, diversified product portfolio, contract wins and continued technology upgrades. Higher synergies from Open Solutions acquisitions and continuous contract wins by the DNA platform are expected to drive growth over the next couple of years. Higher recurring revenues, operational efficiencies and strong internal growth are expected to result in solid earnings and free cash flow growth, which will provide the company a competitive edge. However, a volatile macroeconomic environment, banking and financial service consolidation, poor cash flow, tough competition and increasing industry regulations are the primary concerns in the near term. We maintain our Neutral recommendation on the stock and set a price target of $62.00. “
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank raised their price target on shares of Fiserv from $95.00 to $100.00 in a research note to investors on Wednesday, December 11th. They now have a “hold” rating on the stock. Separately, 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, December 11th. They now have an “overweight” rating on the stock. Finally, 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. One equities 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 stock. The company has an average rating of “Hold” and a consensus price target of $103.47.
Shares of Fiserv (NASDAQ:FISV) traded down 1.31% during mid-day trading on Thursday, hitting $58.275. 388,391 shares of the company’s stock traded hands. Fiserv has a 52-week low of $39.515 and a 52-week high of $59.28. The stock has a 50-day moving average of $55.85 and a 200-day moving average of $50.61. The company has a market cap of $15.031 billion and a P/E ratio of 26.13.
Fiserv (NASDAQ:FISV) last announced its 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.
Fiserv, Inc (NASDAQ:FISV) is a global provider of financial services technology.
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