Wall Street Zen upgraded TSS, Inc. (TSSI) from strong sell to sell on Saturday. The stock fell 19.1% following the second-quarter earnings report. Shares opened at $9.68. The company reported earnings per share of $0.05. This result missed the consensus estimate of $0.08.
TSS is transitioning from low-margin procurement revenue toward higher-margin services. Systems-integration revenue increased 46% year-over-year. Total revenue decreased 20% during this transition. The company reported $35.1 million in total revenue. TSS maintained its full-year adjusted EBITDA outlook.
Market sentiment remains mixed with a Moderate Buy consensus rating. The average analyst price target is $16.17. Needham maintained a Buy rating but lowered its price target to $13. The previous price target was $16. Insiders sold approximately $4.92 million in shares over the past 90 days.