IDT Stock Surges on Strong Earnings and Analyst Upgrade
IDT (NYSE: IDT) stock rose by approximately 17% over five trading days, driven primarily by strong fourth-quarter financial results. The company reported a year-over-year revenue increase of 7% to $339 million across all four segments, with GAAP net income rising 29% to nearly $22 million and non-GAAP earnings per share climbing from $0.76 to $0.94. Despite missing adjusted EPS estimates by three cents, the company exceeded revenue expectations and raised its guidance for fiscal year gross profit ($545–$555 million) and EBITDA ($176–$180 million). Analyst Mikhail Paramonov of Freedom Broker upgraded his price target from $75 to $85 per share while maintaining a 'buy' rating, citing the company's strong performance and future potential. IDT’s stock is currently trading at around $79 with a market cap of approximately $2.1 billion. The firm appears well-positioned for continued growth based on its high margins and consistent revenue expansion.
Tickers: $IDT
Topics: analyst_recommendation fintech stock_performance telecom