Comverse, Inc. (CNSI) saw a big move last session, as the company’s shares fell by over 5% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for CNSI, as the stock is now down around 19% since Jun 4.
On Jun 15, Comverse reported loss in its first quarter 2015 results. However the company on the same day announced to have signed a definitive agreement to acquire privately held secure mobile messaging company Acision for around $135 million in cash.
The communication network software company has seen a flat track record when it comes to current year estimate revisions over the past few weeks and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
CNSI currently has a Zacks Rank #3 (Hold).
Another better-ranked stock in the same sector is NeuStar, Inc. (NSR) with a Zacks Rank #1 (Strong Buy).
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COMVERSE INC (CNSI): Free Stock Analysis Report
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