TIBCO Software Price Target Raised to $31.00 at Stifel Nicolaus (TIBX)
Investment analysts at Stifel Nicolaus raised their target price on shares of TIBCO Software (NASDAQ:TIBX) from $26.00 to $31.00 in a note issued to investors on Friday, American Banking News reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 22.77% from the company’s current price.
The analysts wrote, “After a year of disappointing results, TIBCO built upon last quarter’s greenshoots and delivered a strong F3Q13 print, with revenue/margins/EPS/CFFO all above guidance/consensus. The healthy quarter was punctuated by license revenue of $105.2M (well-ahead of our above-consensus estimate of $91.7M), strong ASP growth, and upbeat guidance, which sent the stock up 8% AH and to its highest levels since October-2012. While it isn’t out-of-the-woods just yet (federal business remains muted, core SOA decelerated albeit at a much improved pace), we view the upbeat print as further validation that TIBCO is making solid progress in rectifying its sales execution issues and believe its superior product stack is levered to a number of secular trends (analytics, big data, social, cloud, real-time) that solve real-world problems across verticals. Together with stabilizing/improving end-markets and easing comps, we continue to believe that both estimates and multiples can work higher in coming quarters as TIBCO continues to demonstrate consistency. Given this backdrop, we remain buyers of shares and raise our target price to $31.”
A number of other firms have also recently commented on TIBX. Analysts at Pacific Crest raised their price target on shares of TIBCO Software (NASDAQ:TIBX) from $25.00 to $30.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Susquehanna upgraded shares of TIBCO Software (NASDAQ:TIBX) from a “neutral” rating to a “positive” rating in a research note to investors on Friday. Finally, analysts at Macquarie raised their price target on shares of TIBCO Software (NASDAQ:TIBX) from $26.00 to $30.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock.
Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $27.33.
Shares of TIBCO Software (NASDAQ:TIBX) traded up 4.91% on Friday, hitting $26.49. The stock had a trading volume of 6,601,491 shares. TIBCO Software has a 52 week low of $18.18 and a 52 week high of $31.57. The stock has a 50-day moving average of $23.77 and a 200-day moving average of $22.04. The company has a market cap of $4.262 billion and a price-to-earnings ratio of 45.83. TIBCO Software also was the recipient of unusually large options trading on Thursday. Stock traders purchased 41,474 call options on the company. This is an increase of 775% compared to the average volume of 4,740 call options.
TIBCO Software (NASDAQ:TIBX) last announced its earnings results on Thursday, September 19th. The company reported $0.28 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.06. The company had revenue of $270.90 million for the quarter, compared to the consensus estimate of $258.21 million. During the same quarter last year, the company posted $0.27 earnings per share. TIBCO Software’s revenue was up 6.2% compared to the same quarter last year. Analysts expect that TIBCO Software will post $0.98 EPS for the current fiscal year.
TIBCO Software Inc (NASDAQ:TIBX) is a provider of middleware and infrastructure software.
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