TruBridge (NASDAQ:TBRG) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Key Points

• TruBridge beat earnings expectations for the quarter, reporting $0.59 EPS versus the $0.51 consensus estimate, a beat of $0.08 per share.
• Revenue came in below forecasts at $86.27 million, short of analyst expectations of $88.52 million, even as the company posted a 17.32% return on equity.
• Analyst sentiment remains cautious, with an average “Hold” rating and a consensus price target of $23.95, while the stock traded slightly higher on the day.

TruBridge (NASDAQ:TBRG - Get Free Report) issued its quarterly earnings results on Friday. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.08, FiscalAI reports. The company had revenue of $86.27 million for the quarter, compared to analysts' expectations of $88.52 million. TruBridge had a return on equity of 17.32% and a net margin of 0.90%.

TruBridge Stock Up 0.2%

TruBridge stock opened at $25.83 on Friday. The firm has a market cap of $387.42 million, a price-to-earnings ratio of 129.15, a PEG ratio of 2.22 and a beta of 1.30. The company has a current ratio of 1.81, a quick ratio of 1.79 and a debt-to-equity ratio of 0.91. TruBridge has a 12 month low of $13.88 and a 12 month high of $26.68. The stock has a fifty day simple moving average of $19.44 and a two-hundred day simple moving average of $20.41.

Analyst Ratings Changes

A number of analysts have recently commented on TBRG shares. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $26.25 target price on shares of TruBridge in a report on Monday, April 27th. BMO Capital Markets reiterated a "market perform" rating and issued a $26.25 price target on shares of TruBridge in a research note on Friday, April 24th. Weiss Ratings reissued a "sell (e+)" rating on shares of TruBridge in a research report on Wednesday, January 28th. Freedom Capital cut shares of TruBridge from a "strong-buy" rating to a "hold" rating in a report on Friday, April 24th. Finally, Wall Street Zen downgraded shares of TruBridge from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 25th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $23.95.

Hedge Funds Weigh In On TruBridge

Several hedge funds and other institutional investors have recently bought and sold shares of TBRG. Legal & General Group Plc bought a new stake in shares of TruBridge in the second quarter worth approximately $26,000. New York State Common Retirement Fund bought a new stake in TruBridge in the 2nd quarter worth approximately $101,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in TruBridge during the 2nd quarter valued at $128,000. State of Wyoming bought a new position in shares of TruBridge during the 2nd quarter valued at $161,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of TruBridge in the 1st quarter worth $221,000. Institutional investors own 88.64% of the company's stock.

TruBridge Company Profile

TruBridge, Inc is a technology solutions provider specializing in digital transformation and managed services for enterprise clients. The company focuses on helping organizations modernize and optimize their IT environments by leveraging cloud technologies, collaboration platforms, and security solutions. TruBridge's core business activities include consulting, implementation, migration, training and ongoing support for Microsoft 365, Azure and related cloud services.

TruBridge offers a comprehensive suite of services designed to guide clients through every stage of their cloud adoption journey.

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