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kenexa getting squeezed out by taleo, analysts say

Thu, Sep 11, 2008

News

Analysts have downgraded the stock of Kenexa, a provider of talent management software, after the company announced that it is lowering its third-quarter and full-year outlook.

According to Forbes, their stock fell $5.43, or 24.5 percent, to $16.71 in morning trading.

For the year, Kenexa expects a profit of $1.43 to $1.46 per share, compared with the $1.52 to $1.55 it had previously forecast.

Analysts are speculating that Kenexa is losing market share to applicant tracking system Taleo, who in July reported strong second quarter revenues of $38.8 million, an increase of 25 percent year-over-year.

It appears Kenexa’s $115 million purchase of competitor BrassRing in 2006 has not given them a leg-up over Taleo, who also recently acquired a competitor, Vurv Technology, for $128.8 million.

 

 

 

 

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This post was written by:

Vanessa Dennis - who has written 202 posts on Cheezhead.

Vanessa Dennis, originally from Austin, Texas, was a corporate recruiter for two years before becoming a writer for Cheezhead.com. Vanessa has an English Writing degree from Loyola University of New Orleans. She currently lives with her family in Cleveland.

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