Why Concur Technologies Conquered Gains
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.
What: Shares of Concur Technologies (NAS: CNQR) are conquering the day with gains upward of 13% after the company reported strong earnings with upbeat guidance.
So what: Revenue jumped 28% to $108.4 million with non-GAAP earnings of $18.5 million, or $0.33 per share. The Street was only asking for $105.9 million in sales and earnings per share of $0.19. However, on a GAAP basis, Concur lost $4.8 million, or $0.09 per share.
Now what: Concur's third-quarter and full-year outlooks smashed estimates, though. The company sees third-quarter earnings per share of $0.31, well above the $0.20 expectation. The full year should see earnings per share of $1.31, trouncing analysts' estimates of $0.84. UBS has boosted its price target to $70, calling the company one of its favorite software-as-a-service plays and even an attractive buyout candidate.
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At the time this article was published Fool contributorEvan Niuholds no position in any company mentioned.Click hereto see his holdings and a short bio. The Motley Fool has adisclosure policy. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. Try any of our Foolish newsletter servicesfree for 30 days.