ShiftPixy Inc (NASDAQ: PIXY) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company released news with regard to gross billings, showing incredible growth and exciting investors. Today, we’ll talk about:
- The news;
- what we’re seeing from the stock as a result; and
- what we’ll be watching for with regard to PIXY ahead.
PIXY Heads For The Top On Sales Growth
As mentioned above, ShiftPixy is having an incredibly strong start to the trading session this morning after releasing news with regard to sales. In a press release issued early this morning, the company announced that it expects to provide a date for its earnings release relatively soon. However, the company did provide information with regard to sales that’s exciting investors.
In the release, the company provided information with regard to where it expects gross billings to be. For the third quarter, the company is expecting for gross billings to come in at $60.2 million. If that’s the case, it shows incredible growth from the $27.5 million seen in the third quarter of 2017. The company also said that revenue is expected to come in at $9.4 million. That figure represents 102.6% year over year growth from the $4.6 million repoted in the third quarter of 2017. Also, PIXY said that gross profit came in at $1.5 million compared to $0.6 million from the year before. Finally, net losses are expected to come in at $0.06 per share, once again showing strong growth on a year over year basis. The loss reported in Q3 of 2017 was $0.11 per share.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news causes moves. In the case of PIXY, the news proved to be overwhelmingly positive. After all, what investor doesn’t want to see incredible growth. So, it’s no surprise that excited investors are sending the stock screaming for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently, (10:13), PIXY is trading at $4.05 per share after a gain of $1.31 per share or 27.81% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on PIXY. In particular, we’re interested in following the story surrounding the company’s continued growth and excited to see the full earnings release. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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