B. Riley Reiterates $62.00 Price Target for QAD (QADA)

QAD (NASDAQ:QADA) has been given a $62.00 price target by analysts at B. Riley in a research report issued on Wednesday. The brokerage currently has a “buy” rating on the software maker’s stock. B. Riley’s price objective points to a potential upside of 33.02% from the stock’s current price.

QADA has been the subject of a number of other reports. BidaskClub lowered shares of QAD from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Zacks Investment Research lowered shares of QAD from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Finally, Stifel Nicolaus boosted their target price on shares of QAD from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. QAD has an average rating of “Buy” and an average target price of $54.67.

QADA stock opened at $46.61 on Wednesday. The company has a market capitalization of $780.48 million, a P/E ratio of -99.17 and a beta of 1.35. QAD has a 12-month low of $34.90 and a 12-month high of $61.80. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.11.

QAD (NASDAQ:QADA) last announced its earnings results on Tuesday, November 20th. The software maker reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $79.58 million during the quarter, compared to analyst estimates of $81.12 million. QAD had a net margin of 0.10% and a return on equity of 0.08%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) EPS. As a group, analysts forecast that QAD will post -0.02 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in QADA. Bank of New York Mellon Corp raised its stake in QAD by 4.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 82,733 shares of the software maker’s stock valued at $4,149,000 after buying an additional 3,606 shares during the last quarter. Northern Trust Corp raised its stake in QAD by 9.4% during the 2nd quarter. Northern Trust Corp now owns 129,398 shares of the software maker’s stock valued at $6,489,000 after buying an additional 11,092 shares during the last quarter. Acadian Asset Management LLC raised its stake in QAD by 41.0% during the 3rd quarter. Acadian Asset Management LLC now owns 104,439 shares of the software maker’s stock valued at $5,916,000 after buying an additional 30,363 shares during the last quarter. Wells Fargo & Company MN raised its stake in QAD by 20.0% during the 3rd quarter. Wells Fargo & Company MN now owns 18,159 shares of the software maker’s stock valued at $1,029,000 after buying an additional 3,023 shares during the last quarter. Finally, Virginia Retirement Systems ET AL purchased a new stake in QAD during the 3rd quarter valued at $329,000. Institutional investors and hedge funds own 45.36% of the company’s stock.

About QAD

QAD Inc provides enterprise software solutions for manufacturing companies in the automotive, life sciences, consumer products, food and beverage, high technology, and industrial products industries worldwide. The company offers QAD Enterprise Applications, an integrated suite of software applications, which support the core business processes.

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