ZIX (NASDAQ:ZIXI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday, Zacks.com reports. The firm currently has a $7.75 price target on the software maker’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 9.93% from the stock’s previous close.
According to Zacks, “Zix Corporation is the leading provider of hosted email encryption and e-prescribing services. ZixCorp’s hosted Email Encryption Service provides an easy and cost-effective way to ensure customer privacy and regulatory compliance for corporate email. Its PocketScript e-prescribing service reduces costs and improves patient care by automating the prescription process between payors, doctors, and pharmacies. “
A number of other research firms also recently issued reports on ZIXI. ValuEngine downgraded shares of ZIX from a “hold” rating to a “sell” rating in a research note on Tuesday, September 10th. TheStreet downgraded shares of ZIX from a “b-” rating to a “c+” rating in a research note on Wednesday, August 14th. Finally, BidaskClub downgraded shares of ZIX from a “hold” rating to a “sell” rating in a research note on Tuesday, August 20th. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $10.69.
Shares of NASDAQ ZIXI traded up $0.22 during midday trading on Friday, reaching $7.05. 461,137 shares of the company’s stock traded hands, compared to its average volume of 592,740. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.01. The stock’s 50 day simple moving average is $7.38 and its 200-day simple moving average is $8.36. ZIX has a one year low of $4.66 and a one year high of $11.15. The company has a market cap of $380.86 million, a price-to-earnings ratio of 22.03, a P/E/G ratio of 1.38 and a beta of 0.89.
ZIX (NASDAQ:ZIXI) last released its quarterly earnings data on Thursday, August 1st. The software maker reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.05). ZIX had a net margin of 1.55% and a return on equity of 31.03%. The business had revenue of $45.92 million for the quarter, compared to the consensus estimate of $44.53 million. During the same quarter in the prior year, the business posted $0.07 earnings per share. ZIX’s revenue for the quarter was up 162.4% on a year-over-year basis. Equities analysts predict that ZIX will post 0.33 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Greenwood Capital Associates LLC acquired a new stake in ZIX in the second quarter valued at approximately $166,000. RK Capital Management LLC acquired a new stake in ZIX in the second quarter valued at approximately $4,787,000. Allianz Asset Management GmbH boosted its stake in ZIX by 702.4% in the second quarter. Allianz Asset Management GmbH now owns 1,156,503 shares of the software maker’s stock valued at $10,512,000 after acquiring an additional 1,012,368 shares in the last quarter. Isthmus Partners LLC acquired a new stake in ZIX in the second quarter valued at approximately $934,000. Finally, Castleark Management LLC acquired a new stake in ZIX in the second quarter valued at approximately $2,180,000. Institutional investors own 72.63% of the company’s stock.
ZIX Company Profile
Zix Corporation provides email encryption, data loss prevention (DLP), threat protection, archiving, and bring-your-own-device mobile security solutions for the healthcare, financial services, insurance, and government sectors primarily in the United States. The company offers ZixEncrypt that bundles email encryption and DLP capabilities to enable the secure exchange of email; ZixProtect, a cloud-based service that defends organizations from zero-day malware, ransomware, phishing, CEO fraud, W-2 phishing attacks, spam, and viruses in email; and ZixArchive, a cloud-based email retention solution that enables user retrieval, compliance, and e-discovery.
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