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Demandware (NASDAQ:DWRE) reached a new 52-week high on Tuesday following a stronger than expected earnings report, Analyst Ratings Network reports. The company traded as high as $73.53 and last traded at $69.69, with a volume of 1,108,301 shares traded. The stock had previously closed at $63.41.

The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. The company had revenue of $35.54 million for the quarter, compared to the consensus estimate of $33.24 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 35.0% on a year-over-year basis.

A number of analysts have recently weighed in on DWRE shares. Analysts at BMO Capital Markets initiated coverage on shares of Demandware in a research note on Thursday, January 23rd. They set a “market perform” rating on the stock. Separately, analysts at Zacks upgraded shares of Demandware from a “neutral” rating to an “outperform” rating in a research note on Monday, January 20th. They now have a $73.70 price target on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Demandware from $70.00 to $80.00 in a research note on Friday, January 17th. They now have a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $61.24.

The stock has a 50-day moving average of $65.22 and a 200-day moving average of $54.13. The company’s market cap is $2.186 billion.

Demandware, Inc (NASDAQ:DWRE) is a provider of software-as-a-service e-commerce solutions that enable companies to design, implement and manage their own customized e-commerce sites, including Websites, mobile applications and other digital storefronts.

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