Bottomline Technologies, Inc. (NASDAQ: EPAY) shares rose on Thursday February 2 on heavier 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, The Dow Jones Industrial Average DJIA, -0.10% fell 34 points, or 0.2%, to 19,858. The S&P 500 SPX, -0.11% lost 4 points to 2,276, a drop of 0.2%. The Nasdaq Composite Index COMP, -0.05% slid 16 points, or 0.3%, to 5,626. Among the most actively traded Nasdaq stocks was Facebook Inc FB, +0.31% which fell 0.7% a day after it reported its quarterly results.
Bottomline Technologies, Inc. (NASDAQ: EPAY) had its price target raised by equities researchers at Needham & Company LLC from $0.00 to $31.00. With a rating of on the shares, Bottomline Technologies, Inc. has a 52-week high of $31.52. The one-year price target of $27.14 is a decrease compared to the opening price of $27.50, causing a number of other analysts to issue statements on the company in recent days.
Shares of Bottomline Technologies, Inc. (NASDAQ: EPAY) opened at $27.50 yesterday trading between $26.63 and $28.35, and last traded at $27.52, which is an increase of $2.00 over the previous closing price.
Bottomline Technologies, Inc. (NASDAQ: EPAY) currently has a market cap of 1.04B.
Bottomline Technologies, Inc. (NASDAQ: EPAY) Average Daily Trading Volume
The stock’s average daily volume is 214,085 shares out of a total float 36,656,000 and some 223,868 shares crossed the trading desk yesterday, 66 percent above normal. higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have substantial teams of analysts that research thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
Bottomline Technologies, Inc. (NASDAQ: EPAY) 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 tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
Trades for Bottomline Technologies, Inc. (NASDAQ: EPAY) have ranged from $18.48 – 31.520, and the stock now has a 50-day MA of $25.26 and 200-day MA of $23.32. Today’s last price is 12.71%% below the 52 week high of $31.52.
Earnings growth is an important factor to consider when buying stocks and investors identify companies that have grown their earnings at least 25% or more for a 3 year period.
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