With a market cap of $25.7 billion, Iron Mountain Incorporated (IRM) is a global leader in storage and information management services, specializing in secure data storage, records management, and digital transformation solutions. The Portsmouth, New Hampshire-based company serves a diverse client base, including corporations, government agencies, and small businesses, helping them manage physical and digital information securely and efficiently.
Companies worth $10 billion or more are generally described as "large-cap stocks," Iron Mountain fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size, influence, and dominance in the specialty REIT industry.
With a strong presence in over 60 countries, Iron Mountain has expanded its offerings to include cloud storage, data centers, and information governance services. Leveraging its reputation for security and compliance, the company continues to evolve in response to growing data protection and regulatory requirements, positioning itself as a key player in the information management industry.
Despite its notable strengths, IRM has slipped 32.8% from its 52-week high of $130.24 achieved on Oct. 25. Furthermore, the stock has plunged 16.7% in the past three months, compared to the broader Nasdaq Composite’s ($NASX) fall of 9.1% over the same time frame.
IRM stock prices have declined 24.1% over the past six months but have surged 8.2% over the past 52 weeks. In contrast, the $NASX has dropped marginally over the past six months and climbed 8.4% over the past year, surpassing the stock.
IRM has traded below its 200-day moving average since mid-February and under its 50-day moving average since early December, indicating a downtrend.
On Feb. 13, IRM shares dipped over 7% after reporting its Q4 results. Its revenue rose 11.4% year over year to $1.6 billion but missed the consensus estimate. However, its adjusted FFO of $1.24 topped Wall Street expectations of $1.20, driven by growth across its storage, asset lifecycle management, and data center businesses.
IRM has also outperformed its peer Digital Realty Trust, Inc.’s (DLR) 5.2% gains over the past six months but has returned 7.4% over the past year.
The stock has a consensus “Moderate Buy” rating among the eight analysts covering it. The mean price target of $117.62 suggests an upswing potential of 34.4% from current price levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
