Shares of Incontact Inc (SAAS) soared 17% percent on Thursday after the company easily topped earnings and revenue expectations. Incontact said second-quarter EPS came in at $0.07, $0.14 better than estimates of ($0.07). Revenues jumped 32.2% on a year-over-year basis to $41.1 million vs the $39.86 million consensus. Following the company’s solid results, analysts at Oppenheimer upgraded SAAS to ‘Outperform’ from ‘Perform’ and placed a price target of $12.00 in research report issued to clients on Thursday. Oppenheimer, whose new PT suggests a potential upside of more than 56% from the company’s previous closing price, believes SAAS’s valuation has compressed to an attractive level. Another firm upgrading shares of Incontact Inc this morning was The Benchmark Company, whose analysts upgraded it to a ‘Buy’ from ‘Hold’ rating.
Incontact closed at $7.68/share at the end of Wednesday’s trading session, printing a negative one year return of about 6% and a positive year-to-date return of around 14.72%. The stock of the $503 million market cap firm had a trading volume of 168,200 shares. SAAS, whose current T-12 profit and operating margin stand at (-6.83%) and (-6.20%), respectively, has a 1-year low of $6.93 and a 1-year high of $10.54. The stock’s 50-day moving average is $8.50 and its 200-day moving average is $9.00. The company has a trailing/12 price-to-sales ratio of 3.20.
The chart below shows where the equity has traded over the last 52 weeks, with the 50-day and 200-day MAs included.
SAAS is up $1.32 in early trading, reducing its monthly decline to less than one percent.
inContact, Inc. provides cloud contact center software solutions, and network connectivity services in the U.S. The company was founded in 1994 and is headquartered in Salt Lake City, Utah.