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Saturday, January 23, 2021

Tech Data Corporation (NASDAQ:TECD) is Gaining Momentum on Earnings Catalyst

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The Tech Data Corporation (TECD) shares are trading at higher $144.90 and the avg recommendation for the stock is Moderate Buy. The current analyst price target stands at $146.67.

To add more color to this target, the company’s high over the last year is $151.47 and the low is $80.20. Over the last 52 weeks, TECD is down -4.34% while the S&P 500 is up 1.47%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, TECD reported a profit of $531.66 million. Tech Data Corporation also saw revenues increase to $8.18 billion. In addition, TECD has free cash flow of -$13.32 million as of 04-2020 The company’s EBITDA came in at $128.11 million which compares well with its peers.

TECD booked profit margins of 1.00%, its Return on Equity (ROE) is 12.20%, and its Return on Assets is 2.90%. All told, it is clear that, TECD needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. TECD has a short ratio of 2.25 and outstanding shares of 35.69M.

Company Outlook

TECD has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.72 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 10.17. Tech Data Corporation TECD also noted assets of $12.38 billion at the end of the last quarter. Investors should also keep an eye on sector updates as TECD has historically followed its peers on positive news.

All told, Tech Data Corporation TECD has strung together solid data and demonstrated underlying fundamentals. At its current valuation, TECD represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Tech Data Corporation TECD is now commanding a market cap of 5.17B and a float of 35.30M. TECD is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of TECD stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in TECD, either long or short, and we have not been compensated for this article.

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