Goldman Sachs Downgrades Monitise Plc to Buy (MONI)
Monitise Plc (LON:MONI) was downgraded by Goldman Sachs to a “buy” rating in a research note issued on Wednesday. They currently have a GBX 65 ($1.11) price objective on the stock, down from their previous price objective of GBX 105 ($1.80). Goldman Sachs’ price target would suggest a potential upside of 43.40% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Berenberg Bank reiterated a “hold” rating on shares of Monitise Plc in a research note on Tuesday. They now have a GBX 74 ($1.27) price target on the stock. Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Monitise Plc in a research note on Tuesday. They now have a GBX 85 ($1.46) price target on the stock. Finally, analysts at Barclays reiterated an “overweight” rating on shares of Monitise Plc in a research note on Tuesday. They now have a GBX 75 ($1.29) price target on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of GBX 65 ($1.11).
Monitise Plc (LON:MONI) traded up 0.73% during mid-day trading on Wednesday, hitting GBX 45.3289. The stock had a trading volume of 39,957,312 shares. Monitise Plc has a one year low of GBX 33.112 and a one year high of GBX 78.425. The stock’s 50-day moving average is GBX 61.19 and its 200-day moving average is GBX 67.61.
Monitise plc is a United Kingdom-based holding company. The principal activity of the Company is as a technology company delivering mobile banking, payments and commerce networks worldwide.
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