Concur Shares Popped: What You Need to Know (CNQR)

Concur Shares Popped: What You Need to Know

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Concur Technologies (Nasdaq: CNQR ) conquered the day with gains as high as 16% after reporting strong first quarter earnings.

So what: Revenue hit $100 million for the first time ever, and earnings were no slouch either at $0.32 per share. The results looked rather tall when stacked against the Street's expectations of $98.8 million in revenue and $0.19 earnings per share.

Now what: Several analysts also came out with bullish comments to follow up the figures. Needham & Company reiterated its buy rating and $65 price target, calling Concur one of its favorite software-as-a-system names with accelerating growth. UBS upgraded shares from neutral to buy, bumping up its price target from $48 to $66 in the process, saying it has few credible competitors and abundant growth opportunities.

Interested in more info on Concur? Add it to your watchlist.

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Fool contributor Evan Niu holds no position in any company mentioned. Check out his holdings and a short bio. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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