Tibco Software Trading Down 5.2% After Analyst Downgrade (TIBX)
Tibco Software (NASDAQ:TIBX)’s share price was down 5.2% during mid-day trading on Friday after Susquehanna downgraded the stock from a positive rating to a neutral rating, StockRatingsNetwork reports. Susquehanna now has a $19.00 price target on the stock, down from their previous price target of $24.00. Tibco Software traded as low as $19.17 and last traded at $19.73, with a volume of 7,535,366 shares traded. The stock had previously closed at $20.82.
A number of other firms have also recently commented on TIBX. Analysts at Barclays cut their price target on shares of Tibco Software from $22.00 to $21.00 in a research note on Friday. Finally, analysts at Hilliard Lyons downgraded shares of Tibco Software from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 4th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $24.57.
The stock has a 50-day moving average of $20.0 and a 200-day moving average of $21.2. The company has a market cap of $3.206 billion and a P/E ratio of 40.74.
Tibco Software (NASDAQ:TIBX) last issued its quarterly earnings data on Thursday, June 19th. The company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The company had revenue of $252.30 million for the quarter, compared to the consensus estimate of $252.33 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 2.6% on a year-over-year basis. On average, analysts predict that Tibco Software will post $0.95 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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