Concur Technologies Rating Reiterated by Zacks (CNQR)
Concur Technologies (NASDAQ:CNQR)‘s stock had its “neutral” rating restated by Zacks in a research report issued to clients and investors on Friday. They currently have a $98.00 price target on the stock. Zacks‘s price objective would indicate a potential upside of 5.24% from the company’s current price.
Zacks’ analyst wrote, “Concur is a leading provider of integrated travel and expense management solutions. We are reaffirming our Neutral recommendation on Concur Technologies with a target price of $98. The company’s second quarter witnessed strong new customer growth across the segments, thereby strengthening its travel management business. Further, Concur’s performance in SMB and enterprise business remained strong in the quarter. This apart, the company launched a number of novel apps like ExpenseIt and TripIt among others which are already witnessing momentum. The Concur App Center is also performing well. However, the company’s business is dependent on maintaining strategic relationships with other entities. Further, the increasing expenses are proving to be a drag on company’s financials.”
Shares of Concur Technologies (NASDAQ:CNQR) traded down 0.86% during mid-day trading on Friday, hitting $92.32. 277,286 shares of the company’s stock traded hands. Concur Technologies has a one year low of $74.43 and a one year high of $130.39. The stock has a 50-day moving average of $84.47 and a 200-day moving average of $99.82. The company’s market cap is $5.251 billion.
Concur Technologies (NASDAQ:CNQR) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.15 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.09 by $0.06. The company had revenue of $167.01 million for the quarter, compared to the consensus estimate of $165.81 million. During the same quarter last year, the company posted $0.24 earnings per share. Concur Technologies’s revenue was up 31.1% compared to the same quarter last year. On average, analysts predict that Concur Technologies will post $0.62 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs cut their price target on shares of Concur Technologies from $90.00 to $77.00 in a research note on Thursday, May 22nd. Separately, analysts at Nomura reiterated a “buy” rating on shares of Concur Technologies in a research note on Friday, May 16th. They now have a $120.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Concur Technologies in a research note on Thursday, May 8th. They now have a $95.00 price target on the stock, down previously from $110.00. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $105.69.
In other Concur Technologies news, CEO Sudhir Steven Singh sold 11,000 shares of Concur Technologies stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $91.14, for a total transaction of $1,002,540.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Concur Technologies, Inc (NASDAQ:CNQR) is a provider of integrated travel and expense management solutions for companies of all industries, sizes, and geographies.
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