Craig-Hallum analyst Jeff Van Rhee lowered the firm’s price target on Ebix to $35 from $40 to reflect peer multiples and increased interest rates, while keeping a Buy rating on the shares. The firm notes that Ebix grew worldwide revenue an impressive 18% year-over-year at constant currency and beat our top line estimate materially. The business is gaining share in North American insurance operations as well as the India-centric EbixCash business and is broadly seeing overall improvements in momentum, Craig-Hallum adds.
Published first on TheFly
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- Ebix reports Q4 adjusted EPS 36c
- Ebix Reports Record Revenues of $1.1 Billion, 2022 Operating Income of $120.3 Million with 1% YoY Growth, Operating Cash Flow of $32.5 Million in Q4 2022 and $77.6 Million for Fiscal Year 2022, with 12% YOY Growth
- Ebix Hosts Q4 Investor Call Wednesday, March 15, 2023 at 11:00 a.m. ET
- Ebix price target lowered to $40 from $150 at Craig-Hallum
- Ebix signs debt extension amendment with existing lenders
