Equities researchers at Stifel Nicolaus cut their target price on shares of TIBCO Software (NASDAQ: TIBX) from $28.00 to $26.00 in a report issued on Friday. The firm currently has a “buy” rating on the stock.
The analysts wrote, “After a disappointing close to FY12 and following a weak ORCL print, TIBX reported a lackluster 1Q13. Despite a strong pipeline, sales execution issues continue to hamper TIBX as evidenced by the ~$8M license miss and significantly below consensus 2Q guide. As we have previously written, sales execution issues aren’t typically resolved in a quarter and weak macro/challenged end-markets further exacerbates any missed blocking-and-tackling. To put this miss in context, TIBX was only 2-3 slipped large deals away from achieving guidance and notes several slipped deals have since closed. There is no question TIBCO is becoming a show-me story until it rights the ship; however, with shares down 15% in AH, we think the stock is de-risked with much uncertainty priced in. We continue to believe TIBX is levered to many secular trends and that the stock sets up well in coming quarters as execution/close rates improve, comps ease, and end-markets stabilize/improve.”
TIBCO Software (NASDAQ: TIBX) traded down 15.36% on Friday, hitting $19.61. TIBCO Software has a 52-week low of $18.95 and a 52-week high of $34.67. The stock’s 50-day moving average is currently $22.82. The company has a market cap of $3.149 billion and a price-to-earnings ratio of 32.18.
TIBCO Software (NASDAQ: TIBX) last posted its quarterly earnings results on Thursday, March 21st. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $237.80 million for the quarter, compared to the consensus estimate of $242.46 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts expect that TIBCO Software will post $1.21 EPS for the current fiscal year.
TIBX has been the subject of a number of other recent research reports. Analysts at Susquehanna downgraded shares of TIBCO Software from a “positive” rating to a “neutral” rating in a research note to investors on Friday. Separately, analysts at FBN Securities downgraded shares of TIBCO Software from an “outperform” rating to a “sector perform” rating in a research note to investors on Friday. Finally, analysts at BMO Capital Markets cut their price target on shares of TIBCO Software from $22.00 to $20.00 in a research note to investors on Friday. They now have a “market perform” rating on the stock.
Eleven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. TIBCO Software presently has an average rating of “Buy” and an average price target of $28.64.
TIBCO Software Inc. (NASDAQ: TIBX) is a provider of middleware and infrastructure software. The Company’s software platform enables customers to create applications from infrastructure and deliver real-time and actionable insights.