Iron Mountain Incorporated (IRM) has been attracting interest as an unsexy AI stock choice by Goldman Sachs, and BlackRock considering it a vital AI share. However, Epoch Investment Partners, Mercer Global Advisors, and several insiders, including Director Wendy Murdoch and EVPs John Tomovcsik and Edward Baker-Greene, have all sold substantial shares. These actions are coinciding with IRM's stock underperforming compared to competitors, which has led to calls questioning the wisdom of retaining Iron Mountain in portfolios. Despite this, IRM has seen significant growth, rising 53.4% and 27.5% YTD in separate instances. Q2 AFFO beat estimates with revenues rising YoY, resulting in a 10% dividend per share increase. IRM also exceeded revenue expectations in Q1 2024, aligning with EPS projections, and saw record revenues for Q4 and the entire 2023. The company has expanded its digital front by integrating MongoDB, ensuring customers have customizable digital experiences to manage their information. Iron Mountain's complex performance, combined with the indications of strength in AI involvement and digital expansion, has left investors divided over its valuation.
Iron Mountain IRM News Analytics from Mon, 05 Feb 2024 08:00:00 GMT to Sun, 22 Sep 2024 17:01:31 GMT -
Innovation 3
- Information -1
- Rumor -4
