Kenexa Shares Popped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
So what: After accounting for charges related to last year's acquisition of Salary.com, non-GAAP revenue rose 58.8% to $71.3 million while adjusted profit improved 38.5% to $0.18 a share. Analysts had been looking for $66.9 million and $0.17, respectively, according to data compiled by Yahoo! Finance.
Now what: Early investors must be loving the momentum; shares of Kenexa have doubled over the past 52 weeks as the underlying business has improved. Management expects further gains in the second half, projecting $271 to $275 million in full-year revenue and $0.77 to $0.80 in profits. Wall Street had been calling for $0.77 on $270 million in revenue. Are you buying at these levels? Selling? Weigh in using the comments box below.
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