Why Textura Shares Popped
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 Textura have popped today after a slew of analysts initiated bullish coverage on the company.
So what: Textura went public in early June with an early pop, and four Street analysts have started the company off with outperform ratings. That includes William Blair, Oppenheimer, Credit Suisse, and Barrington Research, all of which are optimistic about Textura's prospects.
Now what: Oppenheimer and Barrington Research each assign a $35 price target, while Credit Suisse believes shares are heading to $33. Shares traded as high as $29.99 today on the investor optimism. The company offers an online collaboration platform for the construction industry and more than doubled revenue last fiscal year to $21.7 million, according to its prospectus.
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