Citigroup Boosts IBEX (NASDAQ:IBEX) Price Target to $26.00

IBEX (NASDAQ:IBEXGet Rating) had its target price raised by Citigroup from $18.00 to $26.00 in a report published on Friday, The Fly reports. Citigroup currently has a neutral rating on the stock.

A number of other research firms have also weighed in on IBEX. Truist Financial increased their price objective on shares of IBEX from $22.00 to $27.00 and gave the stock a buy rating in a research report on Wednesday, November 16th. Royal Bank of Canada raised their target price on shares of IBEX from $20.00 to $26.00 in a research report on Wednesday, November 16th. TheStreet raised shares of IBEX from a c rating to a b- rating in a research report on Thursday, November 10th. Finally, Piper Sandler raised their target price on shares of IBEX from $20.00 to $27.00 and gave the stock an overweight rating in a research report on Wednesday, November 16th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, IBEX presently has an average rating of Moderate Buy and a consensus price target of $26.50.

IBEX Price Performance

IBEX stock opened at $24.85 on Friday. IBEX has a 1-year low of $10.77 and a 1-year high of $25.20. The firm has a market capitalization of $453.46 million, a P/E ratio of 19.26 and a beta of 0.48. The company’s 50-day moving average is $18.91 and its 200 day moving average is $17.84.

IBEX (NASDAQ:IBEXGet Rating) last posted its quarterly earnings data on Thursday, September 22nd. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. IBEX had a net margin of 4.73% and a return on equity of 28.36%. The company had revenue of $123.71 million for the quarter, compared to analyst estimates of $124.18 million. Research analysts anticipate that IBEX will post 1.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IBEX

Institutional investors have recently modified their holdings of the stock. Argent Capital Management LLC increased its holdings in IBEX by 16.3% during the second quarter. Argent Capital Management LLC now owns 14,600 shares of the company’s stock valued at $246,000 after buying an additional 2,045 shares during the period. Royce & Associates LP boosted its stake in IBEX by 15.8% in the first quarter. Royce & Associates LP now owns 184,165 shares of the company’s stock valued at $2,936,000 after acquiring an additional 25,136 shares in the last quarter. Anchor Capital Advisors LLC acquired a new stake in IBEX in the first quarter valued at approximately $348,000. Bank of New York Mellon Corp boosted its stake in IBEX by 10.9% in the third quarter. Bank of New York Mellon Corp now owns 13,693 shares of the company’s stock valued at $254,000 after acquiring an additional 1,351 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in IBEX by 73.8% in the third quarter. Lazard Asset Management LLC now owns 3,608 shares of the company’s stock valued at $67,000 after acquiring an additional 1,532 shares in the last quarter. 26.21% of the stock is owned by hedge funds and other institutional investors.

About IBEX

(Get Rating)

IBEX Limited provides end-to-end technology-enabled customer lifecycle experience solutions in the United States and internationally. The company products and services portfolio includes ibex Connect, that offers customer service, technical support, revenue generation, and other value-added outsourced back-office services through the CX model, which integrates voice, email, chat, SMS, social media, and other communication applications; ibex Digital, a customer acquisition solution that comprises digital marketing, e-commerce technology, and platform solutions; and ibex CX, a customer experience solution, which provides a suite of proprietary software tools to measure, monitor, and manage its clients' customer experience.

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