Tibco Software Given New $24.00 Price Target at Pacific Crest (TIBX)
Analysts at Pacific Crest cut their price objective on shares of Tibco Software (NASDAQ:TIBX) from $28.00 to $24.00 in a research report issued to clients and investors on Wednesday. Pacific Crest’s price objective indicates a potential upside of 15.44% from the company’s current price.
A number of other firms have also recently commented on TIBX. Analysts at JMP Securities downgraded shares of Tibco Software to a “market perform” rating in a research note on Wednesday. Separately, analysts at Mizuho downgraded shares of Tibco Software from a “buy” rating to a “neutral” rating in a research note on Wednesday. They now have a $18.00 price target on the stock, down previously from $25.00. Finally, analysts at Goldman Sachs cut their price target on shares of Tibco Software from $25.00 to $22.00 in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $25.90.
Tibco Software (NASDAQ:TIBX) opened at 20.79 on Wednesday. Tibco Software has a 52 week low of $18.65 and a 52 week high of $27.15. The stock’s 50-day moving average is $19.75 and its 200-day moving average is $21.51. The company has a market cap of $3.374 billion and a P/E ratio of 41.12. Tibco Software also saw some unusual options trading activity on Monday. Stock traders bought 2,177 put options on the company. This represents an increase of 680% compared to the typical volume of 279 put options.
Tibco Software (NASDAQ:TIBX) last released its earnings data on Thursday, March 20th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $253.00 million for the quarter, compared to the consensus estimate of $250.56 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts predict that Tibco Software will post $1.16 earnings per share for the current fiscal year.
TIBCO Software Inc (NASDAQ:TIBX) is a provider of middleware and infrastructure software.
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