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.Fool contributor Evan Niu, CFA has no position in any stocks mentioned. The Motley Fool recommends Teradata. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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