Needham & Company LLC Issues Positive Forecast for International Money Express (NASDAQ:IMXI) Stock Price

International Money Express (NASDAQ:IMXI) had its target price boosted by equities research analysts at Needham & Company LLC from $22.00 to $25.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 15.74% from the stock’s previous close.

A number of other research firms have also weighed in on IMXI. Monness Crespi & Hardt decreased their target price on shares of International Money Express from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Northland Securities upped their target price on shares of International Money Express from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday. BTIG Research reaffirmed a “neutral” rating on shares of International Money Express in a report on Wednesday, August 7th. BMO Capital Markets upped their target price on shares of International Money Express from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Oppenheimer initiated coverage on shares of International Money Express in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

International Money Express Stock Performance

NASDAQ IMXI opened at $21.60 on Tuesday. The company’s 50 day moving average is $18.08 and its 200-day moving average is $19.36. International Money Express has a 12-month low of $16.17 and a 12-month high of $23.28. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 1.57. The firm has a market cap of $704.38 million, a P/E ratio of 12.07 and a beta of 0.82.

Hedge Funds Weigh In On International Money Express

Hedge funds and other institutional investors have recently bought and sold shares of the stock. nVerses Capital LLC grew its stake in International Money Express by 133.3% in the 3rd quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock worth $39,000 after buying an additional 1,200 shares in the last quarter. CWM LLC grew its stake in International Money Express by 201.7% in the 2nd quarter. CWM LLC now owns 3,394 shares of the company’s stock worth $71,000 after buying an additional 2,269 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in International Money Express in the 2nd quarter worth approximately $91,000. Quarry LP grew its stake in International Money Express by 113.7% in the 2nd quarter. Quarry LP now owns 4,760 shares of the company’s stock worth $99,000 after buying an additional 2,533 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its stake in International Money Express by 1,277.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 6,061 shares of the company’s stock worth $126,000 after buying an additional 5,621 shares in the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

International Money Express Company Profile

International Money Express, Inc, together with its subsidiaries, operates as an omnichannel money remittance services company in the United States, Latin America, Mexico, Central and South America, the Caribbean, Africa, and Asia. The company offers remittance services, which include a suite of ancillary financial processing solutions and payment services; and online payment options, pre-paid debit cards, and direct deposit payroll cards.