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Igate Corporation (IGTE) [hlAlert]


Igate Corporation (IGTE) downgraded to Hold by Needham

Posted on: Tuesday,  Aug 12, 2008  9:25 AM ET by Needham

Needham rated Hold Igate Corporation (NASDAQ: IGTE) on 08/12/2008. Previously Needham rated Buy Igate Corporation
(NASDAQ: IGTE) on 07/18/2008., when the stock price was $7.30. Since then, Igate Corporation has gained 43.01% of its value until Needham rated IGTE Buy on 08/12/2008, when the price was $10.44. .

iGATE Corporation (iGATE) is a provider of information technology (IT) and IT-enabled operations offshore outsourcing services to large and medium-sized organizations. iGATE provides end-to-end business solutions that leverage technology thus enabling its clients to enhance business performance. These services include client/server design and development, conversion/migration services, offshore outsourcing, enterprise resource planning (ERP) package implementation and integration services, software development and applications maintenance outsourcing. As of June 30, 2008, the Company?s operating segments are iGATE Solutions (iGS), iGATE Professional Services (iPS) and iGATE Shared Services (iSS).

Needham & Company, LLC focuses on emerging growth companies in technology, biotechnology and life sciences. The firm's research goal is to service the needs of growth-oriented institutional clients. Needham & Company has established itself as a premier specialty investment bank providing timely and valuable analysis on companies that are under-covered by the majority of Wall Street firms.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
7/14/2011 8:25 AM Buy
16.99 23.00
as of 12/24/2008
1 Week up  13.43 %
1 Month up  22.22 %
3 Months down  -25.61 %
1 YTD down  -44.23 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
7/22/2009 11:25 AM Buy
7.05 9.00
8/12/2008 9:25 AM Hold
7/18/2008 11:25 AM Buy
7.30 11.00
2/21/2008 9:25 AM Buy
7.96 10.00

(*) Stock Price at the time of the recommendation.
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