Raymond James Reiterates “Outperform” Rating for SciQuest (SQI)
SciQuest (NYSE:SQI)‘s stock had its “outperform” rating reaffirmed by research analysts at Raymond James in a report released on Thursday. They currently have a $19.50 price objective on the stock, down from their previous price objective of $24.00. Raymond James’ target price would indicate a potential upside of 26.71% from the stock’s previous close.
SciQuest (NYSE:SQI) traded down 1.54% on Thursday, hitting $15.39. The stock had a trading volume of 439,294 shares. SciQuest has a 1-year low of $14.46 and a 1-year high of $32.69. The stock has a 50-day moving average of $16.82 and a 200-day moving average of $22.75. The company’s market cap is $422.2 million.
SciQuest (NYSE:SQI) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $25.67 million for the quarter, compared to the consensus estimate of $25.40 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, analysts predict that SciQuest will post $0.29 earnings per share for the current fiscal year.
SQI has been the subject of a number of other recent research reports. Analysts at TheStreet downgraded shares of SciQuest from a “buy” rating to a “hold” rating in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $31.13.
SciQuest, Inc provides on-demand strategic procurement and supplier management solutions. The Company’s on-demand software enables organizations to realize the benefits of strategic procurement by identifying and establishing contracts with preferred suppliers, driving spend to those contracts and promoting process efficiencies through electronic transactions.
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