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Equities research analysts at Susquehanna cut their price objective on shares of Tibco Software (NASDAQ:TIBX) from $27.00 to $24.00 in a research note issued to investors on Wednesday. Susquehanna’s price objective indicates a potential upside of 15.44% from the stock’s previous close.

Shares of Tibco Software (NASDAQ:TIBX) traded down 8.47% during mid-day trading on Wednesday, hitting $19.03. 9,934,612 shares of the company’s stock traded hands. Tibco Software has a 52 week low of $18.65 and a 52 week high of $27.15. The stock has a 50-day moving average of $19.75 and a 200-day moving average of $21.51. The company has a market cap of $3.089 billion and a price-to-earnings ratio of 40.68. Tibco Software also was the target of some unusual options trading on Monday. Investors purchased 2,177 put options on the company. This represents an increase of 680% compared to the average 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 Thomson Reuters 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 prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts expect that Tibco Software will post $1.14 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on TIBX. Analysts at RBC Capital cut their price target on shares of Tibco Software from $28.00 to $23.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Stifel downgraded shares of Tibco Software from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, analysts at Stifel Nicolaus downgraded shares of Tibco Software from a “buy” rating to a “hold” rating in a research note on Wednesday. They now have a $29.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $25.17.

TIBCO Software Inc (NASDAQ:TIBX) is a provider of middleware and infrastructure software.

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