SeaChange International (NASDAQ:SEAC)’s share price hit a new 52-week high during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $3.48 and last traded at $2.80, with a volume of 313100 shares traded. The stock had previously closed at $2.74.
The software maker reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.08. The company had revenue of $23.43 million for the quarter, compared to analyst estimates of $19.50 million. SeaChange International had a negative return on equity of 15.80% and a negative net margin of 54.54%. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.13) earnings per share.
A number of analysts recently commented on the company. Lake Street Capital upgraded SeaChange International from a “hold” rating to a “buy” rating and lifted their price target for the stock from $3.00 to $4.00 in a report on Thursday. Dougherty & Co lifted their price target on SeaChange International from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Thursday. Finally, Zacks Investment Research upgraded SeaChange International from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a report on Wednesday, September 13th.
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SeaChange International Company Profile
SeaChange International, Inc (SeaChange) is engaged in the delivery of multiscreen video. The Company’s products and services facilitate the aggregation, licensing, management and distribution of video and advertising content for cable television system operators, telecommunications companies, satellite operators and media companies.
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