Analysts at SunTrust started coverage on shares of Xoom Corporation (NASDAQ:XOOM) in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $45.00 price target on the stock. SunTrust’s price target would indicate a potential upside of 34.17% from the company’s current price.
The analysts wrote, “We are initiating coverage with a Buy and a Street-high $45 target. Strong customer growth, scalable infrastructure and impressive risk controls suggest that estimates are materially low. Our differentiated view highlights Xoom’s strategy to capture outsized ‘disruptor share’ in large targeted markets, rather than blanketing the world like the incumbents. We also quantify Xoom’s compelling customer economics, which is a key component of our bullish thesis. The net of this view is that we believe Xoom can reach $650m-$700m in revenue, with a 35% EBITDA margin, in the next five-to-seven years.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Susquehanna upgraded shares of Xoom Corporation from a “neutral” rating to a “positive” rating in a research note to investors on Thursday, October 10th. They now have a $38.00 price target on the stock, up previously from $28.00. Finally, analysts at Needham & Company raised their price target on shares of Xoom Corporation from $27.00 to $35.00 in a research note to investors on Thursday, July 25th. They now have a “buy” rating on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Xoom Corporation has an average rating of “Buy” and a consensus price target of $34.80.
Xoom Corporation (NASDAQ:XOOM) traded up 4.50% during mid-day trading on Monday, hitting $35.05. 348,636 shares of the company’s stock traded hands. Xoom Corporation has a 52 week low of $17.68 and a 52 week high of $36.46. The stock has a 50-day moving average of $31.4 and a 200-day moving average of $25.35. The company has a market cap of $1.269 billion and a price-to-earnings ratio of 3354.00.
Xoom Corporation (NASDAQ:XOOM) last released its earnings data on Wednesday, July 24th. The company reported $0.14 EPS for the quarter. The company had revenue of $33.50 million for the quarter, compared to the consensus estimate of $25.73 million. During the same quarter in the prior year, the company posted ($0.20) earnings per share. The company’s quarterly revenue was up 59.5% on a year-over-year basis.
Xoom Corporation (NASDAQ:XOOM) is engaged in online international money transfer service.
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