Attunity (ATTU) Trading Up 23.3% After Strong Earnings

Attunity Ltd (NASDAQ:ATTU) was up 23.3% during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $20.13 and last traded at $19.97. Approximately 1,025,077 shares were traded during trading, an increase of 449% from the average daily volume of 186,738 shares. The stock had previously closed at $16.20.

The technology company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.20. Attunity had a return on equity of 6.24% and a net margin of 2.45%. The firm had revenue of $22.22 million for the quarter, compared to analysts’ expectations of $18.93 million.

Several equities research analysts have recently issued reports on ATTU shares. Needham & Company LLC lifted their target price on Attunity from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. Craig Hallum lifted their target price on Attunity from $14.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. Roth Capital lifted their target price on Attunity from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. BidaskClub upgraded Attunity from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 31st. Finally, Zacks Investment Research upgraded Attunity from a “hold” rating to a “strong-buy” rating and set a $19.00 price target for the company in a research report on Tuesday, July 31st. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $22.75.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATTU. First Manhattan Co. purchased a new position in Attunity in the third quarter worth about $113,000. Wells Fargo & Company MN purchased a new position in Attunity in the third quarter worth about $120,000. Engineers Gate Manager LP purchased a new position in Attunity in the second quarter worth about $143,000. Citadel Advisors LLC purchased a new position in Attunity in the second quarter worth about $151,000. Finally, FNY Investment Advisers LLC purchased a new position in Attunity in the second quarter worth about $162,000. Institutional investors own 38.78% of the company’s stock.

The stock has a market capitalization of $447.22 million, a P/E ratio of -67.61 and a beta of 1.83.

About Attunity (NASDAQ:ATTU)

Attunity Ltd., together with its subsidiaries, develops, markets, sells, and supports data integration and Big Data management software solutions worldwide. It offers Attunity Replicate, a data replication software for delivering, sharing, and ensuring the availability of data for meeting business operations, analytics, and business intelligence needs; Attunity Gold Client, a replication software for data management within SAP environments; and Attunity Visibility, a software for data usage analytics in Big Data environments.

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