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Why ePlus Holdings Stock Jumped on Tuesday

TheMotleyFool

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Why ePlus Holdings Stock Jumped on Tuesday: https://g.foolcdn.com/editorial/images/743268/bearded-person-at-desk-by-computer-taking-notes.jpg

Shares of ePlus (NASDAQ: PLUS) trounced the market on Tuesday. The technology-solutions provider's stock jumped 18% by 12:45 p.m. ET, even as the wider market fell 1%. That increase added to big gains for shareholders as the stock is up over 50% so far in 2023, compared to a 17% rally in the S&P 500.

Tuesday's jump can be traced to ePlus' positive earnings announcement, along with management's encouraging comments about the rest of the fiscal year ahead.

Executives said before the market opened that ePlus achieved $574 million in Q1, translating into a 25% gain year over year. That increase was powered by both its organic cloud and networking businesses and recent acquisitions.

Source Fool.com

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