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Why Are ScanSource Shares Trading Higher Today?

ScanSource Inc (NASDAQ: SCSC) traded higher by 16% at $35.61 on the last check Wednesday.
byAnusuya Lahiri
August 25, 2021
1 minute read
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  • ScanSource Inc (NASDAQ:SCSC) traded higher by 16% at $35.61 on the last check Wednesday.
  • The value-added technology product and service provider reported Q4 revenue of $852.7 million, up 34% year-on-year, beating the analyst consensus of $733.9 million. The adjusted EPS of $0.96 beat the consensus of $0.57.
  • ScanSource also announced a new $100 million share buyback authorization by its board.
  • Raymond James raised the price target for ScanSource from $35 to $40, implying a 30.3% upside, and reiterated an Outperform.
 
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