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Research analysts at Monness Crespi & Hardt initiated coverage on shares of Xoom Corp (NASDAQ:XOOM) in a report released on Wednesday. The firm set a “buy” rating and a $36.00 price target on the stock. Monness Crespi & Hardt’s price objective indicates a potential upside of 35.49% from the company’s current price.

Xoom Corp (NASDAQ:XOOM) opened at 26.57 on Wednesday. Xoom Corp has a 1-year low of $16.90 and a 1-year high of $36.46. The stock has a 50-day moving average of $22.69 and a 200-day moving average of $24.21. The company has a market cap of $1.009 billion and a price-to-earnings ratio of 163.46. Xoom Corp also was the recipient of a large decline in short interest during the month of May. As of May 30th, there was short interest totalling 1,388,162 shares, a decline of 29.7% from the May 15th total of 1,974,348 shares. Approximately 5.8% of the shares of the company are sold short. Based on an average daily volume of 317,057 shares, the days-to-cover ratio is currently 4.4 days.

Xoom Corp (NASDAQ:XOOM) last announced its earnings results on Tuesday, April 22nd. The company reported $0.06 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.04) by $0.10. The company had revenue of $35.90 million for the quarter, compared to the consensus estimate of $34.35 million. During the same quarter last year, the company posted $0.02 earnings per share. Xoom Corp’s revenue was up 47.7% compared to the same quarter last year. On average, analysts predict that Xoom Corp will post $0.21 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on XOOM. Analysts at Zacks upgraded shares of Xoom Corp from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 1st. They now have a $24.20 price target on the stock. Separately, analysts at SunTrust raised their price target on shares of Xoom Corp from $33.00 to $40.00 in a research note on Wednesday, April 23rd. They now have a “buy” rating on the stock. Finally, analysts at Evercore Partners upgraded shares of Xoom Corp from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, April 16th. They now have a $15.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $32.28.

Xoom Corporation (NASDAQ:XOOM) is engaged in online international money transfer service.

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