Revenue Update on Covisint Corp(NASDAQ:COVS)

Covisint Corp(NASDAQ:COVS) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-hours on Jun 6, 2016. Company reported revenue of $19.99M. Analysts estimated a revenue of $21.05M. Earnings per share were $-0.01. Analysts had estimated an EPS of $-0.11.

Covisint Corp (COVS) shares turned negative on Fridays trading session with the shares closing down -0.04 points or -1.79% at a volume of 51,806. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $2.23. The peak price level was also seen at $2.23 while the days lowest was $2.16. Finally the shares closed at $2.19. The 52-week high of the shares is $3.33 while the 52-week low is $1.5. According to the latest information available, the market cap of the company is $89 M.

Several Insider Transactions has been reported to the SEC. On Feb 16, 2016, William O Grabe (director) purchased 2,100 shares at $1.75 per share price.Also, On Dec 14, 2015, Steven R Asam (SVP, Delivery Operations) sold 6,613 shares at $2.31 per share price.On Nov 25, 2015, Bernard M Goldsmith (director) purchased 9,900 shares at $2.44 per share price, according to the Form-4 filing with the securities and exchange commission.

Covisint Corporation provides cloud engagement platform for enabling organizations to securely connect engage and collaborate with large distributed communities of customers business partners and suppliers. The Company’s Platform-as-a-Service offering enables global organizations to securely connect engage and collaborate with large extended networks of customers business partners suppliers and other third parties. The Company is a wholly-owned subsidiary of Compuware Corporation. The Company’s solutions enables organizations to connect engage and collaborate with the critical external audiences that define their success including customers business partners and suppliers. Covisint allows its clients to establish a secure reliable integrated presence in the cloud and offers the kind of engaging information experiences that people everywhere have come to expect.

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