The Sell-Side Reaction To Covisint Corporation (COVS)’s Recent Shift

Covisint Corporation (COVS) shares saw a recent bid of $2.40 and 1.18M shares have exchanged hands in the recent trading session, yielding a 17.07% gain over the past week. The stock price decreased -2.04% or $0.05 versus $2.45 at the end of the prior session. This change led market cap to move at $98.03M, putting the price -4.00% below the 52-week high and 40.76% above the 52-week low. The company’s stock has a normal trading capacity of 191.33K shares while the relative volume is 6.15.

By historical standards, Covisint Corporation remains a cheap stock. The company’s current price-earnings ratio amounts above the average P/E ratio of 20.52 times earnings. Over the short term, some market observers may have noticed that Covisint Corporation has a 0.71% short float with 15 days to cover. It becomes significant when you consider how many shares are shorted versus the average daily volume, means how many days to cover those short shares at that volume. Covisint Corporation has far performed well this year, with the share price up 26.32% since January. Over the past 2 quarters, the stock is up 6.67%, compared with a gain of nearly 26.32% for 3 months and about 23.08% for the past 30 days.

Last time, the company failed Wall Street by reporting EPS of $-0.11, smashing the consensus of $-0.10 per share. Revenue for the quarter also did not kill consensus, coming in at $17.44M, compared to the consensus of 17.4M. Nonetheless, from here on out, earnings per share forecasts for the current quarter are $-0.11. The company is expected to report EPS as high as $0.01 and as low as $-10.00 per share. Similarly, full-year EPS forecasts have ranged between $-18.55 and $0.02. The mean EPS estimate is $-0.09. On the other side, sales forecasts for the current quarter are $17.44M. The stock is expected to report revenue as high as $0.05M and as low as $0.26M per share. Similarly, full-year sales forecasts have ranged between $1.31M and $0.25M. The mean revenue estimate is $19.16M.

Over the last 5 years, Covisint Corporation has averaged a -54.60% YoY EPS growth rate and a 7.00% revenue growth rate. Analysts are expecting EPS growth rates to be at 62.80% this quarter.

Sell-side analysts also have something to say about this company.

The Sell-Side Reaction To Covisint Corporation (COVS)’s Recent Shift was last modified: June 8th, 2017 by Tiller Blare
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