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ZIXI - Zix News Story

$7.52 0.1  1.1%

Last Trade - 13/04/21

Sector
Technology
Size
Small Cap
Market Cap £309.1m
Enterprise Value £448.3m
Revenue £159.0m
Position in Universe 3704th / 6841

BUZZ-Zix Corp surges on upbeat results; Wedbush lifts PT

Fri 21st February, 2020 1:29pm
** Shares of email encryption provider  ZIXI.O  jump 10.1%
to $8.80 premarket - set for their best day in over 9 months
    ** Zix beats revenue estimates for Q4, boosted by its
acquisition of AppRiver last year; also forecasts current
quarter and 2020 revenue above analysts' estimate
    ** Posts Q4 adjusted profit largely in line with estimates,
forecasts 2020 adjusted profit above estimates  urn:newsml:reuters.com:*:nL8N2AK9IE
    ** However, ZIXI posts Q4 net loss of $5.2 mln vs. net
income of $9.2 mln last year due to acquisition-related expenses
of $4.3 mln and a $2.1 mln dividend to preferred shareholders 
    ** Brokerage Wedbush hikes PT on stock by $3 to $13, sees
large market opportunity for Zix going forward
    ** We applaud Zix's "aggressive" move to beef up position in
cloud-based email security market and encryption as other
enterprises also shift to a cloud-based environment - Wedbush
    ** Average rating on stock is "buy"; median PT is $13 -
Refinitiv data
    ** Up to Thursday's close, stock had risen ~18% YTD

 (Reporting by Ambhini Aishwarya in Bengaluru)
 ((Ambhini.Aishwarya@thomsonreuters.com; within U.S.+1 646 223
8780; outside U.S. +91 80 6749 3268;))
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