Tibco (NASDAQ:TIBX) Driven by Healthy Demand

Tibco Software (NASDAQ:TIBX) performed strongly in their most recent quarter, driven by demand in medium and large deals.

FBR said, "Last night (Tuesday), TIBCO reported a strong quarter to close out its fiscal year, with upside to revenue, license, and EPS. The strength was driven by healthy demand across both large and medium deal sizes. Geographically, the Americas rebounded well from a poor showing at the end of last fiscal year...For F1Q11 (February), we are raising our revenue estimate from $181 million to $182 million and maintaining our pro forma EPS estimate of $0.15. For FY11, we are raising our revenue and pro forma EPS estimates from $807 million and $0.84 to $824 million and $0.88, respectively. We are introducing our FY12 revenue and pro forma EPS estimates of $895 million and $1.00, respectively."

FBR Capital maintains a "Market Perform" on Tibco Software, which closed Wednesday at $20.24, down $0.94, or 4.44 percent. FBR raised their price target on them from $15 to $20.