Obic (OTCMKTS:OBIIF) Stock Jumps 11.1% – Here’s Why

Obic Co (OTCMKTS:OBIIF)’s share price shot up 11.1% during trading on Tuesday. The company traded as high as $33.2790 and last traded at $33.2790. 8,173 shares changed hands during trading, a decline of 79% from the average daily volume of 38,320 shares. The stock had previously closed at $29.9540.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Obic to a “hold” rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Obic has an average rating of “Hold”.

Obic Stock Down 0.1%

The stock has a market capitalization of $13.05 billion, a PE ratio of 25.79 and a beta of 0.68. The stock’s 50 day moving average price is $29.06 and its 200-day moving average price is $25.89.

Obic (OTCMKTS:OBIIF) last released its earnings results on Wednesday, July 22nd. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $225.66 million for the quarter, compared to analysts’ expectations of $220.63 million. Obic had a net margin of 56.13% and a return on equity of 15.65%.

Obic Company Profile

Obic Co, Ltd. is a Japanese information technology company that develops and provides enterprise software and related services. Its principal offering is the OBIC7 suite, an enterprise resource planning platform designed to help organizations manage accounting, finance, human resources, payroll and other core business functions.

In addition to software products, Obic provides implementation consulting, system integration, maintenance and customer support. The company also offers cloud-based services and business solutions intended to help companies centralize data, streamline administrative processes and improve operational efficiency.

Founded in Japan in 1968, Obic primarily serves businesses and other organizations in the Japanese market through its domestic operations and support network.