Why Agilysys Stock Dived 12% Today
(NASDAQ: AGYS) had a Wednesday to forget on the stock exchange. Shares of the tech company that serves the hospitality industry sank by almost 12% following its release of fresh quarterly earnings figures. That was on a generally good day for the market that saw the bellwether S 500 index climb more than 1%.
For its fiscal fourth quarter of 2023, Agilysys booked net revenue of $52.9 million. This was a new quarterly record for the specialty tech company, and it represented a nearly 14% improvement over the same period of 2022.
On the bottom line, the company's net income under generally accepted accounting principles (GAAP) landed at $12.7 million, well up from the $4.6 million of the year-ago quarter. On a non-GAAP (adjusted) basis, net income was $0.26 per share.
Source Fool.com
Agilysys Inc. Stock
Our community is currently high on Agilysys Inc. with 5 Buy predictions and 0 Sell predictions.
With a target price of 85 € there is a slightly positive potential of 15.65% for Agilysys Inc. compared to the current price of 73.5 €.
