Needham & Company LLC Issues Pessimistic Forecast for TSS (NASDAQ:TSSI) Stock Price

TSS (NASDAQ:TSSI) had its price target dropped by equities research analysts at Needham & Company LLC from $13.00 to $9.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC‘s price objective suggests a potential upside of 51.26% from the company’s previous close.

TSSI has been the topic of several other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of TSS in a research note on Monday, September 14th. Wall Street Zen raised TSS from a “sell” rating to a “hold” rating in a research report on Saturday, October 17th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, TSS currently has a consensus rating of “Hold” and an average price target of $12.00.

TSS Stock Performance

Shares of TSSI opened at $5.95 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.66 and a quick ratio of 1.38. TSS has a one year low of $5.90 and a one year high of $17.77. The firm has a market capitalization of $167.90 million, a P/E ratio of 12.40 and a beta of 2.06. The business has a fifty day moving average of $8.40 and a 200 day moving average of $10.75.

TSS (NASDAQ:TSSI) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. TSS had a net margin of 7.44% and a return on equity of 19.22%. The firm had revenue of $50.06 million during the quarter. As a group, sell-side analysts anticipate that TSS will post 0.24 EPS for the current year.

Institutional Investors Weigh In On TSS

Several large investors have recently bought and sold shares of TSSI. Alyeska Investment Group L.P. purchased a new position in TSS in the second quarter worth about $1,914,000. Bank of New York Mellon Corp purchased a new stake in TSS during the second quarter valued at approximately $917,000. Royal Bank of Canada raised its position in TSS by 78.5% during the first quarter. Royal Bank of Canada now owns 25,849 shares of the company’s stock valued at $336,000 after purchasing an additional 11,365 shares during the period. Hsbc Holdings PLC bought a new stake in shares of TSS in the 2nd quarter valued at approximately $324,000. Finally, Bank of America Corp DE lifted its stake in shares of TSS by 21.2% in the 1st quarter. Bank of America Corp DE now owns 23,034 shares of the company’s stock valued at $300,000 after purchasing an additional 4,026 shares during the last quarter.

TSS Company Profile

TSS, Inc (NASDAQ:TSSI) provides data center infrastructure solutions and related services for organizations that require reliable, scalable computing environments. The company supports the planning, design, deployment, and operation of data center facilities and technology infrastructure.

Its services may include data center engineering and construction support, equipment procurement and integration, installation, infrastructure management, and ongoing maintenance. TSS serves customers with demanding information technology requirements, including enterprises, technology companies, and data center operators.

The company’s activities are centered on helping customers build and maintain physical environments for servers, networking equipment, storage systems, power systems, and cooling infrastructure.