Covisint Corp. (COVS) Shares Down 1.4%
Shares of Covisint Corp. (NASDAQ:COVS) fell 1.4% during trading on Friday . The company traded as low as $2.10 and last traded at $2.24, with a volume of 55,088 shares traded. The stock had previously closed at $2.21.
A number of brokerages recently commented on COVS. Credit Suisse Group AG reiterated a “sell” rating and issued a $1.75 price objective on shares of Covisint Corp. in a research report on Tuesday, June 7th. Zacks Investment Research upgraded Covisint Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 1st.
The company’s market capitalization is $91.96 million. The stock has a 50-day moving average of $2.15 and a 200-day moving average of $2.01.
Covisint Corp. (NASDAQ:COVS) last issued its quarterly earnings results on Monday, June 6th. The company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.10. The business had revenue of $20 million for the quarter. Equities research analysts predict that Covisint Corp. will post ($0.29) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Covisint Corp. stock. J. Goldman & Co LP boosted its position in Covisint Corp. (NASDAQ:COVS) by 12.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,886,433 shares of the company’s stock after buying an additional 316,138 shares during the period. J. Goldman & Co LP owned 7.14% of Covisint Corp. worth $7,216,000 as of its most recent SEC filing.
Covisint Corporation provides cloud engagement platform for enabling organizations to securely connect, engage and collaborate with large, distributed communities of customers, business partners and suppliers. The Company’s Platform-as-a-Service offering enables global organizations to securely connect, engage and collaborate with large, extended networks of customers, business partners, suppliers and other third parties.
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