iGATE Upgraded to “Buy” at Jefferies Group (IGTE)
iGATE (NASDAQ:IGTE) was upgraded by Jefferies Group from a “hold” rating to a “buy” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports.
Separately, analysts at Noble Financial reiterated a “hold” rating on shares of iGATE in a research note on Monday, May 19th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. iGATE currently has a consensus rating of “Hold” and a consensus price target of $35.70.
iGATE (NASDAQ:IGTE) opened at 36.39 on Tuesday. iGATE has a 52-week low of $16.45 and a 52-week high of $41.41. The stock has a 50-day moving average of $34.71 and a 200-day moving average of $35.08. The company has a market cap of $2.140 billion and a price-to-earnings ratio of 30.87.
iGATE (NASDAQ:IGTE) last issued its quarterly earnings data on Thursday, April 10th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. The company had revenue of $302.20 million for the quarter, compared to the consensus estimate of $300.82 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts predict that iGATE will post $2.12 earnings per share for the current fiscal year.
iGATE Corporation (NASDAQ:IGTE) is an outsourcing provider of integrated end-to-end offshore centric information technology (IT) and IT-enabled operations solutions and services.
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