William Blair analyst Maggie Nolan has maintained their bullish stance on INGM stock, giving a Buy rating yesterday.
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Maggie Nolan’s rating is based on Ingram Micro Holding Corporation’s impressive third-quarter performance, which surpassed expectations in both revenue and earnings per share. The company’s strong results were primarily driven by robust GPU sales and sustained momentum in the small and medium-sized business sector, marking the third consecutive quarter of sequential growth. Additionally, despite a cybersecurity incident in early July, the impact was less severe than anticipated, demonstrating the company’s resilience.
Ingram Micro’s diverse business lines and regional operations all showed growth, with notable success in client and endpoint solutions, which saw a significant year-over-year increase. Although there was a decline in advanced solutions, the consistent double-digit growth in storage and servers was encouraging. Furthermore, the company’s fourth-quarter outlook suggests continued revenue growth, particularly in client and endpoint solutions, supporting the positive Buy rating given by Maggie Nolan.
Nolan covers the Technology sector, focusing on stocks such as CSG Systems International, Eplus, and Grid Dynamics Holdings. According to TipRanks, Nolan has an average return of -3.7% and a 40.52% success rate on recommended stocks.
In another report released yesterday, RBC Capital also maintained a Buy rating on the stock with a $25.00 price target.