ironSource (NYSE:IS) Price Target Raised to $14.00 at Wedbush

ironSource (NYSE:IS) had its price target boosted by stock analysts at Wedbush from $12.00 to $14.00 in a research report issued on Thursday, The Fly reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s target price indicates a potential upside of 21.11% from the company’s current price.

IS has been the topic of a number of other research reports. Credit Suisse Group began coverage on ironSource in a report on Thursday. They set an “outperform” rating and a $16.00 price objective on the stock. Jefferies Financial Group assumed coverage on ironSource in a report on Monday, July 26th. They set a “buy” rating and a $12.00 price objective on the stock. William Blair assumed coverage on ironSource in a research note on Monday, July 26th. They issued an “outperform” rating and a $8.80 target price on the stock. The Goldman Sachs Group assumed coverage on ironSource in a research note on Thursday, July 22nd. They issued a “buy” rating and a $11.00 target price on the stock. Finally, Robert W. Baird assumed coverage on ironSource in a research note on Tuesday, July 20th. They issued an “outperform” rating and a $12.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $12.35.

Shares of NYSE IS traded up $0.47 during trading on Thursday, reaching $11.56. 26,711 shares of the stock traded hands, compared to its average volume of 1,910,391. ironSource has a 52-week low of $7.80 and a 52-week high of $12.70. The firm has a 50-day moving average of $10.37.

ironSource (NYSE:IS) last issued its quarterly earnings results on Wednesday, August 11th. The company reported $0.02 EPS for the quarter. The firm had revenue of $135.04 million for the quarter, compared to analysts’ expectations of $124.80 million. As a group, research analysts forecast that ironSource will post 0.08 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley bought a new position in ironSource during the 2nd quarter worth approximately $187,956,000. Baupost Group LLC MA bought a new position in ironSource during the 2nd quarter worth approximately $80,066,000. Dragoneer Investment Group LLC bought a new position in ironSource during the 2nd quarter worth approximately $63,525,000. Maverick Capital Ltd. bought a new position in ironSource during the 2nd quarter worth approximately $61,950,000. Finally, Wells Fargo & Company MN bought a new position in ironSource during the 2nd quarter worth approximately $58,054,000.

ironSource Company Profile

ironSource Ltd. operates a business platform for app developers and telecom operators. Its platforms include Sonic solution suite that supports developers to launch, monetize, and scale their apps and games by providing solutions for app discovery, user growth, content monetization, analytics, and publishing; and Aura solution suite, which allows telecom operators to enrich the device experience by creating new engagement touchpoints that deliver relevant content for their users across the entire lifecycle of the device.

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