Keynote Systems (NASDAQ:KEYN) reported Q1 EPS of $0.32, better than analyst estimates of $0.25 per share. Revenues for the quarter rose 33.5% year-over-year to $31.01 million, better than consensus estimates of $31.08 million.
Umang Gupta, Chairman and CEO of Keynote, said: "We delivered strong first quarter results across all our businesses reflecting growth supported by positive seasonality. Secular trends, including growth in ecommerce and cloud computing, continue to drive activity in our Internet business, which yielded record revenue. Our Keynote-SIGOS business grew in the quarter and benefited from some early project acceptances. Keynote-DeviceAnywhere performed to expectations after factoring in acquisition-related accounting adjustments, and we look forward to opportunities we see in the enterprise mobile testing market."
Keynote Systems (NASDAQ:KEYN) has potential upside of 38.7% based on a current price of $19.55 and an average consensus analyst price target of $27.13.
Keynote Systems should find initial resistance at its 50-day moving average (MA) of $19.55 and further resistance at its 200-day MA of $21.25.
In the last five trading sessions, the 50-day MA has fallen 0.47% while the 200-day MA has remained constant.
Keynote Systems, Inc. provides Internet performance measurement and diagnostic services that enable electronic commerce companies to measure, assure, and im- prove the quality of service of their Web sites. The Company currently offers Keynote PERSPECTIVE and Keynote LIFELINE through a direct telesales force in the United States.
