Friday, November 08, 2024
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For additional information, visit www.ISG-One.com
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Hitting the Top of Revised Guidance. ISG reported revenue and net income at the top end of the Company’s revised guidance and in-line with our estimates. Revenue for the quarter was $61.3 million, which while down 15% from last year, was slightly above our estimate of $61 million. Net income was $1.1 million, or EPS of $0.02, beating out our estimate of $0.2 million or flat EPS.
Rising Client Demand. Management noted that ISG Tango now includes over $5 billion of contract value, up from $4 billion in the previous earnings release. Management is seeing signs that client demand in the U.S. is on the rise, translating to higher spending. We believe that the rise in contract value offers a sign towards higher spending on projects.
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
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