EnerNOC Beats 3Q Expectations, Jefferies & Company Reports

EnerNOC, Inc. ENOC reported strong 3Q results that beat Jefferies & Company's expectations. “ENOC delivered a strong 3Q with revenue of $162.8M exceeding our estimate of $158.3M and GAAP EPS of $1.67 beating our $1.51 estimate,” Jefferies & Company writes. “Gross margin of 47.7% also beat our estimate of 47%.” However, Jefferies & Company said that below consensus guidance for 4Q10 sparked a selloff in the stock. “In our view, the shift in GM and timing of 4Q revenue/cost recognition are not indicative of permanent trends and we would focus on the company's consistent execution toward achieving profitability,” Jefferies & Company added. EnerNOC closed Friday at $25.26.