IP Group (LON:IPO) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Technical breakout: IP Group's share price moved above its 200-day moving average (GBX 57.73), trading as high as GBX 63.50 and last at GBX 62.20 on volume of about 1.93 million shares.
• Analyst sentiment is positive: The stock carries an average "Buy" rating with an average price target of GBX 105, and recent notes include Berenberg's GBX 100 target and Deutsche Bank raising its target to GBX 110 (both "Buy").
• Company fundamentals: IP Group has a market capitalization of £549.49 million and a P/E of 8.76; it reported quarterly EPS of GBX 7.24 and analysts forecast roughly 19.62 EPS for the current fiscal year.

IP Group Plc (LON:IPO - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 57.73 and traded as high as GBX 63.50. IP Group shares last traded at GBX 62.20, with a volume of 1,932,992 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on IPO shares. Berenberg Bank restated a "buy" rating and issued a GBX 100 target price on shares of IP Group in a research note on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft increased their target price on IP Group from GBX 103 to GBX 110 and gave the company a "buy" rating in a research note on Wednesday, March 18th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of GBX 105.

IP Group Stock Performance

The company has a market capitalization of £549.49 million, a P/E ratio of 8.76 and a beta of 1.21. The stock's fifty day moving average price is GBX 55.18 and its 200-day moving average price is GBX 57.73. The company has a debt-to-equity ratio of 12.28, a quick ratio of 8.59 and a current ratio of 0.16.

IP Group (LON:IPO - Get Free Report) last released its quarterly earnings data on Tuesday, March 17th. The company reported GBX 7.24 EPS for the quarter. IP Group had a net margin of 3,526.32% and a return on equity of 7.16%. As a group, research analysts anticipate that IP Group Plc will post 19.6245031 EPS for the current fiscal year.

About IP Group

IP Group accelerates the impact of science for a better future. As the most active UK based, early-stage science investor, we develop and support some of the world's most exciting businesses in deeptech, life sciences and cleantech (led by Kiko Ventures). Through Parkwalk, the UK's largest growth EIS fund manager, we also back world-changing innovation emerging in leading universities and research institutions. Our specialist investment team combines sector expertise with an international approach.

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