Why Teradata 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 Teradata popped today by upwards of 12% after the company reported earnings.
So what: The data analytics specialist generated revenue of $670 million in the second quarter, in line with analyst estimates. The non-GAAP earnings per share of $0.76 beat the Street's forecast of $0.71 per share in adjusted profit.
Now what: CEO Mike Koehler said the company is expecting a strong second half, and profitability continues to expand. Teradata reaffirmed its previously provided guidance, which expects revenue growth of 6% to 10% on a constant currency basis. Lazard raised its price target from $66 to $75, saying demand is recovering and the slowing growth is an industrywide phenomenon.
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The article Why Teradata Shares Popped originally appeared on Fool.com.
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