Analyst Price Target Update on SciQuest (NASDAQ:SQI)

SciQuest (NASDAQ:SQI): According to 6 Analysts, The short term target price has been estimated at $ 15.88.The target price could deviate by a maximum of $2.73 from the forecast price. In the near term, the target price could hit a high of $20 and a low of $ 12.

Many analysts have stated their opinion on the company shares. Brokerage firm William Blair downgrades its rating on SciQuest (NASDAQ:SQI). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by the firm was issued on May 31, 2016. Company shares have received an average consensus rating of Hold for the current week

On the companys insider trading activities, The Securities and Exchange Commission has divulged in a Form 4 filing that the CEO of Sciquest Inc, Wiehe Stephen J had purchased shares worth of $186,186 in a transaction dated on November 9, 2015. A total of 15,400 shares were purchased at a price of $12.09 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

SciQuest (NASDAQ:SQI) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.11 points or 0.62% at $17.59 with 959,140 shares getting traded. Post opening the session at $17.65, the shares hit an intraday low of $17.59 and an intraday high of $17.7 and the price was in this range throughout the day. The company has a market cap of $489 million and the number of outstanding shares have been calculated to be 27,808,603 shares. The 52-week high of SciQuest (NASDAQ:SQI) is $17.81 and the 52-week low is $9.49.

SciQuest, Inc. provides cloud-based business automation solutions for spend management. The Companys offers procurement solutions that automate the source-to-settle process; spend analysis solutions that cleanse and classify spend data to drive and measure cost savings; supplier management solutions that facilitate its customers interactions with their suppliers; contract lifecycle management solutions that automate the contract lifecycle from contract creation through maintenance, and accounts payable solutions that automate the invoice processing and vendor payment processes. The Companys SciQuest Supplier Network is Software-as-a-Service (SaaS) communications hub that enables transaction interactions between its customers and their suppliers through its procurement, accounts payable and supplier management solutions. It is the single integration point between its customers and their suppliers that provides customers with supplier information, including supplier catalogs.

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