Home / Business and Economy / IDT Stock Soars 17% on Record Earnings
IDT Stock Soars 17% on Record Earnings
3 Oct
Summary
- IDT stock surged 17% following strong quarterly earnings.
- Fourth quarter revenues rose 7% year-over-year to $339 million.
- Analyst raises price target to $85, maintaining a buy recommendation.
IDT's stock saw a notable 17% increase this past week, driven by positive financial results and analyst upgrades. The company reported record gross profit and operating income in its fourth quarter for fiscal year 2026. Revenue for the quarter reached $339 million, marking a 7% year-over-year increase across all its reporting segments. GAAP net income rose by 29% to nearly $22 million.
Despite beating revenue estimates, IDT slightly missed adjusted net income forecasts. However, this did not deter analysts, with one notably raising the stock's price target from $75 to $85 while reiterating a buy rating. IDT provided forward guidance anticipating double-digit percentage growth in annual gross profit, projected between $545 million and $555 million for the current fiscal year. The company also expects its adjusted EBITDA to reach between $176 million and $180 million.
