Northland Securities Reaffirms Their Buy Rating on Zix (ZIXI)

By Carrie Williams

In a report released today, Nehal Chokshi from Northland Securities maintained a Buy rating on Zix (ZIXIResearch Report), with a price target of $11.00. The company’s shares closed last Friday at $6.20.

According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 8.7% and a 55.4% success rate. Chokshi covers the Technology sector, focusing on stocks such as Super Micro Computer, Palo Alto Networks, and Avid Technology.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Zix with a $11.00 average price target.

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Based on Zix’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $52.43 million and GAAP net loss of $853K. In comparison, last year the company earned revenue of $29.3 million and had a GAAP net loss of $6.27 million.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ZIXI in relation to earlier this year. Last month, Richard Spurr, a Director at ZIXI sold 22,294 shares for a total of $135,548.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Zix Corp. provides an email encryption and security solutions. Its services enable the use of secure email for sensitive information exchange primarily in the healthcare, financial services, insurance and government sectors. The company products include Zixencrypt, Zixprotech, Zixmail, Zixarchive and Zixone. Zix Corp was founded in 1988 and is headquartered in Dallas, TX.