Concur Technologies Earns Neutral Rating from Analysts at DA Davidson (CNQR)
Equities research analysts at DA Davidson initiated coverage on shares of Concur Technologies (NASDAQ:CNQR) in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $100.00 price target on the stock. DA Davidson’s price objective indicates a potential downside of 0.61% from the company’s current price.
The analysts wrote, “Next generation enterprise application cloud computing leader. CNQR is a software-as-a-service (SaaS) company offering cloud-based expense reporting and travel booking (T&E) solutions. The company has grown revenue at a 26% CAGR over the last dozen years, and management believes that rate of growth can continue for many more. Expense and travel management have largely been un-automated processes. CNQR’s stated goal is to reinvent the corporate travel supply chain and enable every company to process their expense reports using CNQR’s software. Already processing more than $50 billion of T&E expenses per year, the primary driver of demand for the company’s solutions is the potential to achieve hard-dollar cost savings.”
Concur Technologies (NASDAQ:CNQR) opened at 100.61 on Tuesday. Concur Technologies has a 52-week low of $74.43 and a 52-week high of $130.39. The stock has a 50-day moving average of $94.37 and a 200-day moving average of $96.47. The company’s market cap is $5.738 billion.
Concur Technologies (NASDAQ:CNQR) last released its earnings data on Monday, August 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.09. The company had revenue of $178.40 million for the quarter, compared to the consensus estimate of $175.15 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. On average, analysts predict that Concur Technologies will post $0.61 earnings per share for the current fiscal year.
In other Concur Technologies news, EVP Elena A. Donio sold 2,500 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Stifel Nicolaus reiterated an “underperform” rating on shares of Concur Technologies in a research note on Tuesday, August 5th. They now have a $72.00 price target on the stock, down previously from $73.00. Separately, analysts at Deutsche Bank raised their price target on shares of Concur Technologies from $95.00 to $110.00 in a research note on Monday, August 4th. They now have a “buy” rating on the stock. Finally, analysts at Roth Capital initiated coverage on shares of Concur Technologies in a research note on Wednesday, June 25th. They set a “buy” rating and a $130.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $106.77.
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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