SciQuest PT Raised to $28.00 (SQI)
Investment analysts at Canaccord Genuity boosted their price objective on shares of SciQuest (NYSE:SQI) from $24.00 to $28.00 in a note issued to investors on Friday, Analyst Ratings.Net reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s price objective would indicate a potential downside of 2.74% from the stock’s previous close.
Separately, analysts at JMP Securities set a $31.00 price target on shares of SciQuest in a research note to investors on Tuesday, November 19th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $27.00.
SciQuest (NYSE:SQI) opened at 28.79 on Friday. SciQuest has a 52 week low of $15.50 and a 52 week high of $30.83. The stock’s 50-day moving average is $28.48 and its 200-day moving average is $24.5. The company’s market cap is $683.3 million.
SciQuest (NYSE:SQI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.09 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.09. The company had revenue of $22.51 million for the quarter, compared to the consensus estimate of $23.08 million. During the same quarter last year, the company posted $0.06 earnings per share. SciQuest’s revenue was up 31.1% compared to the same quarter last year. Analysts expect that SciQuest will post $0.35 EPS for the current fiscal year.
SciQuest, Inc provides on-demand strategic procurement and supplier management solutions. The Company’s on-demand software enables organizations to realize the benefits of strategic procurement by identifying and establishing contracts with preferred suppliers, driving spend to those contracts and promoting process efficiencies through electronic transactions.
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