Alex Sacerdote Quickly Brings Textura Corp (TXTR) Back Into His Portfolio

However, this doesn’t mean that Textura Corp (NYSE:TXTR)’s stock has been performing poorly. Although up by just over 2% so far this year, Textura’s shares have climbed by nearly 20% over the last 12 months. This is still less than the average gains posted by the software application industry however, which has posted average gains amounting to 10.89% year-to-date and 25% over the past year.  The company’s future prospects look promising according to Northland’s Jeff Houston, who initiated coverage on the company with an ‘Outperform’ rating and a $40 price target, which provides an upside of about 33% to the current trading price of shares. The analyst believes that Textura Corp (NYSE:TXTR) is enjoying first-mover price advantage as it modernizes the underpenetrated commercial construction business.

In its financial results for the first quarter Textura Corp (NYSE:TXTR) broke even on the EPS front, which was what analysts expected; however revenues of $19.2 million were $0.05 million short of the estimates, though they still represented a 39.2% increase on a year-over-year basis. The technology company’s CEO Pat Allin stepped down recently, and handed the reins to board member Dave Habiger, who will act as Interim CEO. Allin will continue to serve as Executive Chairman of Textura Corp (NYSE:TXTR).

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