Movers and SHAKERS
Information Services (III)
Raising PT on Back of Strong Operating Performance
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 70 of the top 100 enterprises in the world, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Raising Price Target. We are raising our 12-month price target for III shares based on the Company's strong operating performance and favorable operating outlook. At our new price target, III shares would trade at 21.2x our adjusted 2021 EPS, 11.9x our 2021 adjusted EBITDA, and 1.5x our 2021 revenue estimate. These multiples compare to a peer group average of 24.1x 2021 consensus earnings, 14.7x 2021 consensus EBITDA, and 2.3x 2021 consensus revenue.
Area Revenues. Reported revenues were $38.1 million in the Americas, up 7% versus the prior year, excluding the impact of T&E (up 3% reported); $22.7 million in Europe, up 4%, excluding the impact of T&E (up 3% on a reported basis and down 5% in constant currency), and $5.7 million in Asia Pacific, up 24%, excluding the impact of T&E (up 22% on a reported basis and up 6% in constant currency) ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.