Iron Mountain (IRM:NYE) delivers physical and digital data storage and protection solutions. Despite being a well-known provider of physical records management, IRM stock is undervalued by investors seeking stability and growth. With a ‘Perfect 10’ Smart Score rating, IRM stock is positioned to outperform the market.
The physical records management business segment of IRM has remained relevant despite the steady rise in cybersecurity concerns. Paper backups are essential for Fortune 500 companies because they cannot be hacked and provide a level of protection that digital backups cannot match. By offering both physical and digital data storage options, IRM stock is well-suited to meet the volatility of the new normal.
Wall Street has assigned IRM stock a consensus recommendation of Strong Buy with an average price target of $60.50, indicating a 14.1% upside potential.
The company’s cloud data management unit fuses the analog and digital worlds without a hitch. IRM can replicate and store a client’s most vital digital files, providing a backup placed in a separate, secure site to limit the effects of data breaches and other security breaches.
The financials for IRM stock are satisfactory, with a three-year revenue growth rate of 5.6% and an EBITDA growth rate of 8.2%. The company is profitable, with a net margin of 10.9%, and its revenues increased by 13.6% to $5.1 billion in 2022. As more businesses seek data protection solutions, IRM’s financial performance is anticipated to improve.
IRM is an unsung hero in the cybersecurity industry, as its damage mitigation solutions are crucial to the survival of businesses. Iron Mountain stock is a fantastic investment option for those seeking both safety and growth.