William Blair analyst Maggie Nolan has maintained their bullish stance on INGM stock, giving a Buy rating on July 17.
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Maggie Nolan has given her Buy rating due to a combination of factors that highlight Ingram Micro’s strategic advancements and potential for growth. The company’s Xvantage platform is a pivotal element, transforming Ingram Micro from a traditional IT distributor into a dynamic technology platform. This shift is expected to create new revenue streams, enhance operating leverage, and strengthen partnerships, which are crucial for the company’s long-term success.
Moreover, the early success of the Xvantage platform is evident in its impressive rollout across 21 countries, covering a significant portion of the company’s revenue. The platform has successfully re-engaged dormant partners, leading to higher transaction volumes and increased self-service orders. These developments are anticipated to improve the company’s market position and drive a re-rating of INGM shares, aligning them more closely with other digital marketplaces that benefit from recurring revenue models.
According to TipRanks, Nolan is an analyst with an average return of -0.9% and a 46.24% success rate. Nolan covers the Technology sector, focusing on stocks such as Genpact, TELUS International (CDA), and Ingram Micro Holding Corporation.
In another report released on July 17, RBC Capital also maintained a Buy rating on the stock with a $25.00 price target.