Infosys Technologies Given “Neutral” Rating at Zacks (INFY)
Infosys Technologies (NASDAQ:INFY)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Thursday. They currently have a $57.00 price objective on the stock. Zacks‘s price objective would indicate a potential upside of 5.17% from the stock’s previous close.
Zacks’ analyst wrote, “Infosys is a leading provider of business consulting, technology, engineering and outsourcing services worldwide. We are maintaining our Neutral recommendation on the stock. Profits during the reported quarter were driven by the company’s differentiating strategy to capture potential opportunities and the strategic organizational changes. Furthermore, the company has signed new deals that are expected to drive profits going forward. Meanwhile, during the quarter, Infosys had strong client wins, especially Fortune 500 companies. In addition, the company’s big data and cloud offerings are also gaining strong momentum. After witnessing consecutive declines in margins for the past six quarters, the company finally reported margin growth..”
Separately, analysts at Jefferies Group initiated coverage on shares of Infosys Technologies in a research note on Friday, April 25th. They set a “buy” rating and a $60.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $54.00.
Shares of Infosys Technologies (NASDAQ:INFY) traded up 0.63% on Thursday, hitting $54.54. The stock had a trading volume of 738,025 shares. Infosys Technologies has a 1-year low of $38.91 and a 1-year high of $63.20. The stock’s 50-day moving average is $52.85 and its 200-day moving average is $55.72. The company has a market cap of $31.164 billion and a price-to-earnings ratio of 17.71.
Infosys Technologies (NASDAQ:INFY) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $0.85 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.80 by $0.05. The company had revenue of $128.75 billion for the quarter, compared to the consensus estimate of $129.14 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 23.2% on a year-over-year basis. Analysts expect that Infosys Technologies will post $3.30 EPS for the current fiscal year.
Infosys Limited (NASDAQ:INFY), formerly Infosys Technologies Limited, provides business consulting, technology, engineering and outsourcing services.
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