TransUnion Hits 52-Week High On Growing Big Data Market
Zacks Investment Research | Jun 19, 2017 09:34PM ET
Shares of data and analytics solutions provider, TransUnion (NYSE:TRU) scaled a new 52-week high of $44.36 in yesterday’s trading session, before closing a tad lower at $44.30 for a healthy one-year return of 33.6%. Barring minor hiccups, the company’s share price has steadily been on an uptrend since February. This Zacks Rank #3 (Hold) stock has the potential for further price appreciation with long-term earnings growth expectations of 12.8%.
Growth Drivers
TransUnion’s addressable market includes the burgeoning Big Data and analytics, which is expanding rapidly as companies comprehend the advantages of building an analytical enterprise where decisions are derived from data and insights. Numerous underlying trends are supporting this market growth, including the creation of massive amounts of data, advances in technology and analytics that allow data to be processed more swiftly and efficiently for key insights across industries and geographies.
Research firm, IDC projects that global spending on Big Data and analytics services will witness a compounded annual growth rate of 11.7% and will reach $203 billion in 2020 from $130 billion in 2016. In order to capitalize on the market’s immense growth potential, TransUnion has leveraged its next-generation technology to strengthen its analytics capabilities and has further expanded its database.
With a core business focus, TransUnion has outperformed the Zacks categorized Original post
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