$51.90 Million in Sales Expected for IDI, Inc. (COGT) This Quarter
Equities analysts expect IDI, Inc. (NASDAQ:COGT) to post $51.90 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for IDI’s earnings, with the lowest sales estimate coming in at $51.00 million and the highest estimate coming in at $52.80 million. IDI posted sales of $41.04 million in the same quarter last year, which suggests a positive year over year growth rate of 26.5%. The company is scheduled to report its next quarterly earnings report on Monday, August 14th.
On average, analysts expect that IDI will report full year sales of $51.90 million for the current financial year, with estimates ranging from $233.57 million to $236.21 million. For the next fiscal year, analysts expect that the firm will report sales of $288.55 million per share, with estimates ranging from $279.10 million to $293.95 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow IDI.
IDI (NASDAQ:COGT) last announced its earnings results on Tuesday, May 9th. The technology company reported ($0.17) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.09. IDI had a negative return on equity of 12.16% and a negative net margin of 17.68%. The business had revenue of $50.80 million for the quarter, compared to analyst estimates of $50.29 million. During the same quarter last year, the firm earned ($0.25) EPS. IDI’s revenue for the quarter was up 28.9% compared to the same quarter last year.
COGT has been the topic of a number of research reports. Chardan Capital reaffirmed a “buy” rating and set a $12.50 price target on shares of IDI in a research note on Monday, March 13th. Zacks Investment Research raised IDI from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research note on Monday, May 22nd. Finally, Roth Capital initiated coverage on IDI in a research note on Thursday, June 29th. They set a “buy” rating and a $7.65 price target on the stock.
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Shares of IDI (NASDAQ:COGT) traded up 13.83% during midday trading on Friday, reaching $5.35. The company had a trading volume of 317,241 shares. The stock’s 50 day moving average is $4.97 and its 200-day moving average is $4.33. IDI has a 12-month low of $2.90 and a 12-month high of $6.22. The stock’s market capitalization is $293.08 million.
Several hedge funds have recently modified their holdings of COGT. Schwab Charles Investment Management Inc. increased its stake in shares of IDI by 328.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 103,200 shares of the technology company’s stock valued at $480,000 after buying an additional 79,100 shares during the period. WealthTrust Axiom LLC bought a new stake in shares of IDI during the first quarter valued at approximately $418,000. Bank of New York Mellon Corp increased its stake in shares of IDI by 25.6% in the first quarter. Bank of New York Mellon Corp now owns 75,437 shares of the technology company’s stock valued at $350,000 after buying an additional 15,384 shares during the period. Wells Fargo & Company MN increased its stake in shares of IDI by 1,009.3% in the first quarter. Wells Fargo & Company MN now owns 59,212 shares of the technology company’s stock valued at $276,000 after buying an additional 53,874 shares during the period. Finally, Parametric Portfolio Associates LLC bought a new stake in shares of IDI during the first quarter valued at approximately $179,000. 8.49% of the stock is owned by hedge funds and other institutional investors.
IDI, Inc, formerly Tiger Media, Inc, is a data and analytics company providing information and marketing solutions to businesses in a range of industries. The Company operates through two segments: Information Services and Performance Marketing. The Company serves the risk management and the consumer marketing industries through its consolidated subsidiaries, Interactive Data, LLC and Fluent, LLC, respectively.
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