Share on StockTwits

Fidelity National Information Services (NYSE:FIS) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report issued on Friday. The firm currently has a $65.00 price objective on the stock. Zacks‘s price objective suggests a potential upside of 19.93% from the stock’s previous close.

Zacks’ analyst wrote, “Fidelity reported mixed first-quarter results with earnings beating the Zacks Consensus Estimate and revenues at par with the same. The company provided optimistic outlook for the full year fiscal 2014. Increasing consolidation in the banking sector, challenging environment for the Payments Solutions business, stiff competition and uncertain regulatory environment are the primary headwinds in our view. However, we believe Fidelity’s commanding position in the financial services market, increasing international exposure, recurring revenue model, diversified product portfolio, cost synergies from acquisitions and a loyal customer base will drive growth over the long term and enable it to overcome the headwinds going forward. Thus, we upgrade our recommendation from Neutral to Outperform and set a price target of $65.00.”

Several other analysts have also recently commented on the stock. Analysts at Avondale Partners upgraded shares of Fidelity National Information Services from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 15th. Analysts at Jefferies Group raised their price target on shares of Fidelity National Information Services from $47.00 to $56.00 in a research note on Monday, March 24th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $53.75.

Fidelity National Information Services (NYSE:FIS) traded up 1.00% on Friday, hitting $54.74. 1,077,166 shares of the company’s stock traded hands. Fidelity National Information Services has a 52 week low of $42.09 and a 52 week high of $56.68. The stock has a 50-day moving average of $54.02 and a 200-day moving average of $53.15. The company has a market cap of $15.754 billion and a P/E ratio of 31.57.

Fidelity National Information Services (NYSE:FIS) last announced its earnings results on Thursday, May 1st. The company reported $0.68 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.68. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.54 million. During the same quarter last year, the company posted $0.62 earnings per share. Fidelity National Information Services’s revenue was up 2.8% compared to the same quarter last year. Analysts expect that Fidelity National Information Services will post $3.10 EPS for the current fiscal year.

Fidelity National Information Services, Inc (NYSE:FIS) is a global provider of banking and payments technologies.

To view Zacks’ full report, visit Zacks’ official website.

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.