ironSource (NYSE:IS) Hits New 12-Month Low After Analyst Downgrade

ironSource Ltd. (NYSE:ISGet Rating)’s stock price reached a new 52-week low during mid-day trading on Monday after Morgan Stanley lowered their price target on the stock from $5.00 to $4.75. Morgan Stanley currently has an overweight rating on the stock. ironSource traded as low as $2.36 and last traded at $2.36, with a volume of 32546 shares traded. The stock had previously closed at $2.48.

Several other equities analysts have also recently weighed in on IS. Needham & Company LLC cut their price target on ironSource from $10.00 to $6.00 and set a “buy” rating for the company in a report on Friday, May 13th. Citigroup cut their price target on ironSource from $10.00 to $5.00 and set a “buy” rating for the company in a report on Friday. BTIG Research lowered ironSource from a “buy” rating to a “neutral” rating in a research note on Friday, May 13th. Deutsche Bank Aktiengesellschaft lowered their price objective on ironSource from $9.00 to $6.00 in a research note on Friday, May 13th. Finally, Robert W. Baird lowered their price objective on ironSource from $10.00 to $6.00 in a research note on Friday, May 13th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $10.14.

Hedge funds and other institutional investors have recently modified their holdings of the business. Invesco Ltd. bought a new stake in ironSource during the 3rd quarter valued at $15,166,000. TD Asset Management Inc. purchased a new position in shares of ironSource in the 4th quarter valued at $1,267,000. Victory Capital Management Inc. purchased a new position in shares of ironSource in the 4th quarter valued at $1,415,000. Credit Suisse AG purchased a new position in shares of ironSource in the 3rd quarter valued at $154,000. Finally, Morgan Stanley increased its holdings in shares of ironSource by 37.6% in the 3rd quarter. Morgan Stanley now owns 24,627,999 shares of the company’s stock valued at $267,707,000 after acquiring an additional 6,727,564 shares during the period. 20.99% of the stock is owned by institutional investors and hedge funds.

The stock has a fifty day moving average price of $3.54 and a 200-day moving average price of $5.52. The firm has a market capitalization of $2.37 billion, a PE ratio of 39.01, a P/E/G ratio of 0.55 and a beta of 0.85.

About ironSource (NYSE:IS)

ironSource Ltd. operates a business platform for app developers and telecom operators in Israel and internationally. The company's platforms include Sonic solution suite that supports developers to launch, monetize, and scale their apps and games by providing solutions for app discovery, user growth, content monetization, analytics, and publishing; and Aura solution suite, which allows telecom operators to enrich the device experience by creating new engagement touchpoints that deliver relevant content for their users across the entire lifecycle of the device.

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