Monotype Imaging Holdings Rating Reiterated by Canaccord Genuity (TYPE)
Monotype Imaging Holdings (NASDAQ:TYPE)‘s stock had its “buy” rating reiterated by investment analysts at Canaccord Genuity in a note issued to investors on Friday, American Banking and Market News reports. They currently have a $35.00 target price on the stock, up from their previous target price of $31.00. Canaccord Genuity’s target price indicates a potential upside of 10.97% from the stock’s previous close.
Monotype Imaging Holdings (NASDAQ:TYPE) opened at 31.54 on Friday. Monotype Imaging Holdings has a 1-year low of $17.74 and a 1-year high of $33.25. The stock’s 50-day moving average is $30.69 and its 200-day moving average is $27.97. The company has a market cap of $1.207 billion and a price-to-earnings ratio of 39.54.
Monotype Imaging Holdings (NASDAQ:TYPE) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.25 earnings per share for the quarter, meeting the analysts’ 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. On average, analysts predict that Monotype Imaging Holdings will post $1.09 earnings per share for the current fiscal year.
A number of other firms have also recently commented on TYPE. Analysts at Zacks upgraded shares of Monotype Imaging Holdings from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, January 7th. They now have a $32.30 price target on the stock. Separately, analysts at CRT Capital initiated coverage on shares of Monotype Imaging Holdings in a research note to investors on Monday, January 6th. They set a “buy” rating and a $37.50 price target on the stock. Finally, analysts at B. Riley initiated coverage on shares of Monotype Imaging Holdings in a research note to investors on Thursday, December 19th. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $31.63.
In other Monotype Imaging Holdings news, CEO Douglas Shaw unloaded 25,000 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $30.19, for a total transaction of $754,750.00. Following the sale, the chief executive officer now directly owns 139,566 shares of the company’s stock, valued at approximately $4,213,498. The sale was disclosed in a filing with the Securities & Exchange Commission, 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.