Callidus Software, Inc. (NASDAQ: CALD) shares rose on Wednesday February 8 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, boosting the price target of stock.
Meanwhile U.S. stocks traded modestly lower on Wednesday, as losses in energy shares following a drop in oil prices and a slide in financials weighed on the main indexes.
The S&P 500 index SPX, -0.17% declined 6 points, or 0.3%, to 2,286, with six of the main sectors trading lower. Energy and financials were leading the losses, down more than 1%.
The Dow Jones Industrial Average DJIA, -0.26% was down 65 points, or 0.3%, to 20,021, a day after the blue-chip index set an intraday high at 10,155.35. The Nasdaq Composite COMP, -0.13% retreated from an all-time high set on Tuesday, falling 23 points, or 0.4%, to 5,650.
Callidus Software, Inc. (NASDAQ: CALD) had its price target increased by equities researchers at Lake Street Capital from $20.00 to $21.00. With a rating of Buy on the shares, Callidus Software, Inc. has a 52-week high of $21.44. A number of other analysts have spoken on the company recently, and the company has secured a consensus one-year price target of $23.88, above the opening price of $20.55, a difference of 11.91 percent.
Shares of Callidus Software, Inc. (NASDAQ: CALD) opened at $20.55 yesterday trading between $19.55 and $21.25, and last traded at $20.05, which represents a jump of $1.20 from the previous closing price.
Callidus Software, Inc. (NASDAQ: CALD) currently has a market cap of 1.27B.
Callidus Software, Inc. (NASDAQ: CALD) Average Daily Trading Volume
The stock’s average daily volume is 407,410 shares out of a total float 62,136,000 and some 200,706 shares crossed the trading desk yesterday, 93 percent lower than the average. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
Callidus Software, Inc. (NASDAQ: CALD) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
With that in mind, Callidus Software, Inc. (NASDAQ: CALD) now has a 50-day MA of $17.48 and 200-day MA of $18.01. It has traded in a 52-week range between $11.48 – 21.44 and today’s last price is 6.48%% lower than the 52 week high of $21.44.
Earnings growth is a critical factor to consider when investing in stocks and investors identify companies that have been successful at growing their earnings at least 25% or more for a 3 year period.
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