Infosys Receives Average Rating of “Buy” from Brokerages (NASDAQ:INFY)
Infosys (NASDAQ:INFY) has earned an average rating of “Buy” from the nine brokerages that are covering the stock, American Banking and Market News reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $65.00.
Several analysts have recently commented on the stock. Analysts at Jefferies Group downgraded shares of Infosys from a “buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Separately, analysts at Credit Agricole initiated coverage on shares of Infosys in a research note on Thursday, July 10th. They set an “outperform” rating on the stock. Finally, analysts at Stifel Nicolaus initiated coverage on shares of Infosys in a research note on Tuesday, July 8th. They set a “hold” rating on the stock.
Infosys (NASDAQ:INFY) opened at 58.48 on Thursday. Infosys has a 52 week low of $44.81 and a 52 week high of $63.20. The stock’s 50-day moving average is $55.88 and its 200-day moving average is $55.20. The company has a market cap of $33.416 billion and a price-to-earnings ratio of 18.45. Infosys also was the recipient of unusually large options trading activity on Wednesday. Traders acquired 3,074 put options on the stock. This is an increase of 266% compared to the average volume of 840 put options.
Infosys (NASDAQ:INFY) last posted its quarterly earnings results on Friday, July 11th. The company reported $0.84 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.76 by $0.08. The company had revenue of $127.70 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the company posted $0.73 earnings per share. Infosys’s revenue was up 7.2% compared to the same quarter last year. On average, analysts predict that Infosys will post $3.37 earnings per share for the current fiscal year.
Infosys Limited (NASDAQ:INFY) provides business consulting, technology, engineering and outsourcing services.
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