This is my slow and steady long position.
TIBCO (TIBX) has just breakout of its 52 week resistance.
We will know by the end of the day if it comes with greater volume and if it manage to stay above the previous 52 week high.
TIBX has officially breakout of its long term base with very good quarterly results. (since last highlight of its long term base)
Highlights for Q3 include total revenue grew by 23% over the third quarter of 2009 to $184.5 million, which represents the fourth quarter in a row of accelerating growth. License revenue grew by a healthy 23% to $70.6 million. Non-GAAP operating margins came in at 24.4% for an expansion of 280 basis points over last year, and non-GAAP EPS of $0.17, grew by $0.04 over the third quarter of last year. — Source TheStreet
Consolidation within the industry is good for leaders like TIBCO (TIBX).
With fewer competitors, I expect profit margins to be maintain and at the same time more growth in the verticals.
Nonetheless, the chart is showing a very strong accelerated move on TIBX. Expect it to go beyond $20 by next quarter.
I have always been impressed with Tibco; not with its stock price but at itsÂ portfolio of products and services.
Competitors that I can think of includes Oracle, IBM, and Progress Software.
TIBX is in a very nice position where there exists very few players and they are among the pack of leaders…..which makes them a good acquisition candidate.
But, more interesting today is TIBX price action. While the general market retraces a bit, TIBX continue its march upwards.
At mid-day, it has already matched its average volume.
Perhaps Fujitsu might be interested? Or will SAP gobbled up TIBX?