Monitise (MONI) Share Price LSE Monday 3 November 2014
Last week finally brought some relief to Monitise (MONI) with the company’s share price rising throughout the week. Having opened on Monday at 28.75p, the price climbed steadily to reach a high of 34.25p on Thursday before closing the week slightly down at 32.50p. This means that the price is up 17.54% for the week and 9.84% for the month.
The share price started picking up after rumours surfaced that IBM is considering extending their partnership with Monitise and purchasing the company. While these are only rumours they boosted investors’ confidence in the shares and helped the price recover.
Brokers seem to have confidence that the price will rise as well. Canaccord Genuity has assessed the share as ‘buy’ with a target price of 85p. However, investors are not yet convinced, on Friday 51.85% of shares Monitise shares traded were bought while 48.25% were sold.