IDOX (LON:IDOX) Share Price Passes Below 200-Day Moving Average - Here's Why

Key Points

• IDOX plc shares have fallen below their 200-day moving average of GBX 58.90, trading at GBX 53 ($0.72) during Monday's session.
• Despite the recent drop, Canaccord Genuity Group has reaffirmed a "buy" rating for IDOX, setting a price target of GBX 90.
• The company, offering software and services for local government management, has a market cap of £250.79 million and a current ratio of 0.70.

IDOX plc (LON:IDOX - Get Free Report) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 58.90 ($0.80) and traded as low as GBX 53 ($0.72). IDOX shares last traded at GBX 53 ($0.72), with a volume of 83,760 shares.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reaffirmed a "buy" rating and set a GBX 90 price objective on shares of IDOX in a report on Tuesday, July 8th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of GBX 85.50.

IDOX Price Performance

The stock has a fifty day simple moving average of GBX 60.72 and a two-hundred day simple moving average of GBX 58.90. The firm has a market cap of £250.79 million, a PE ratio of 4,044.12, a price-to-earnings-growth ratio of 3.15 and a beta of 0.38. The company has a current ratio of 0.70, a quick ratio of 1.00 and a debt-to-equity ratio of 30.03.

IDOX Company Profile

IDOX plc, through its subsidiaries, provides software and services for the management of local government and other organizations in the United Kingdom, the United States, rest of Europe, and internationally. The company operates through three segments: Land, Property & Public Protection; Communities; and Assets.

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