InterDigital Q2 revenue beats; raises full-year revenue outlook

The current average analyst rating on the shares is strong buy, with 5 analysts rating it strong buy or buy, and none rating it hold, sell or strong sell.

The average consensus recommendation for the communications & networking peer group is buy.

Wall Street's median 12-month price target for InterDigital Inc is $469.22, about 79.7% above its July 29 closing price of $261.14. The stock recently traded at 32 times the next 12-month earnings, versus a P/E of 40 three months ago.

• The new agreement with Amazon covers services and devices, including Prime Video, and helped drive Q2 results above outlook.
• Annualized recurring revenue rose 13% year over year to an all-time high, reflecting increased licensing activity.
• Operating expenses increased due to higher IP enforcement costs and share-based compensation.

Key details