Zacks Downgrades Xoom Corp to Neutral (XOOM)
Xoom Corp (NASDAQ:XOOM) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued on Tuesday. They currently have a $29.30 price objective on the stock. Zacks‘s price objective would suggest a potential upside of 10.11% from the stock’s previous close.
Shares of Xoom Corp (NASDAQ:XOOM) traded down 2.67% during mid-day trading on Tuesday, hitting $25.90. 327,481 shares of the company’s stock traded hands. Xoom Corp has a one year low of $16.90 and a one year high of $36.46. The stock’s 50-day moving average is $23.19 and its 200-day moving average is $24.20. The company has a market cap of $983.8 million and a P/E ratio of 167.36.
Xoom Corp (NASDAQ:XOOM) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was up 47.7% on a year-over-year basis. On average, analysts predict that Xoom Corp will post $0.21 earnings per share for the current fiscal year.
XOOM has been the subject of a number of other recent research reports. Analysts at Monness Crespi & Hardt initiated coverage on shares of Xoom Corp in a research note on Wednesday, June 18th. They set a “buy” rating and a $36.00 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. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $32.91.
Xoom Corporation (NASDAQ:XOOM) is engaged in online international money transfer service.
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.