DWAC - Why Is DecisionPoint (DPSI) Stock Up 120% Today?
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- DecisionPoint (NYSEMKT:DPSI) stock is jumping on a Q1 earnings beat.
- This saw adjusted earnings per share of 6 cents come in above Wall Street’s estimate of 5 cents.
- Its revenue of $19.72 million also comes in above analysts’ estimate of $18 million.
DecisionPoint (NYSEMKT:DPSI) stock is rocketing higher on Wednesday after the enterprise services and solutions company released results for the first quarter of 2022.
The good news for DPSI stock starts with the company’s adjusted earnings per share of 6 cents. That’s better than the 5 cents per share that Wall Street was looking for. It also represents a 200% increase over its adjusted EPS of 2 cents from the same period of the year prior.
To go along with that, DecisionPoint’s revenue of $19.72 million beat analysts’ estimate of $18 million. Its also a 22.7% jump compared to the company’s revenue of $16.1 million from the first quarter of 2021.
DecisionPoint also updated its outlook for the full year of 2022 in response to its positive earnings report. Company CEO Steve Smith breaks down that change with the following statement.
“We are providing full-year 2022 revenue guidance of $79 to $82 million, which represents 22 to 26% growth versus 2021. We also expect approximately $19 million to come from services. Within this range, we expect Adjusted EBITDA to be between $3.5 and $3.9 million.”
It’s also worth highlighting that DPSI stock is experiencing heavy trading today following the release of its most recent earnings report. This has some 17 million shares on the move as of this writing. That’s a massive surge in trading compared to its daily average volume of around 158,000 shares.
DPSI stock is up 123.3% as of Wednesday afternoon.
Investors looking for more stock market news will want to keep reading!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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