Why Callidus Software (CALD) Stock Is Surging Today

NEW YORK (TheStreet) -- Callidus Software  (CALD) surged Friday after the company reported first-quarter earnings that surpassed analysts' expectations.

The company posted earnings per share of 3 cents, compared to a loss of 2 cents a share in the same period one year earlier. This was in line with analysts' estimates of 3 cents a share. Revenue increased 21.2% year over year to $30.9 million, which beat the consensus estimate of $29.52 million.

Callidus issued full-year EPS guidance in the range of 12 cents to 16 cents, while analysts polled by Thomson Reuters expect 14 cents. The company also issued revenue guidance in the range of $127.5 to $132.5 million, while analysts expect $127.99 million. For the second quarter, Callidus issued EPS guidance in the range of 1 cent to 3 cents.

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The stock was up 14.9% to $10.95 at 11:35 a.m. on Friday.

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Separately, TheStreet Ratings team rates CALLIDUS SOFTWARE INC as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

"We rate CALLIDUS SOFTWARE INC (CALD) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been weak operating cash flow."

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