Canaccord Genuity on Constant Contact (CTCT); High Noon in Waltham: It's Time For CTCT To Step Up
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Price: $32.01 --0%
Rating Summary:
2 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
2 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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Canaccord Genuity maintains a 'Buy' on Constant Contact (NASDAQ: CTCT) price target lowered from $30 to $28.
Canaccord analyst, Richard Davis, said, "We expect CTCT shares to pop once its Social Media product goes live in the near future. We will then evaluate the firm’s likely execution at that point...We have inched our price target down by $2 to reflect the multiple depressing effects of the market’s August meltdown."
"Implications for Constant Contact: time to step up. Investors don’t care if earnings grow but revenue growth decelerates. The key thing that we will be watching for is: 1) timing of the paid Social Media launch, 2) pricing strategy, and 3) apparent uptake trends. While management never set a specific launch date, we hoped for an early September launch. Constant Contact is completely mum on the launch date, so as far as we know, the launch could happen within days. In all likelihood, the simple announcement will probably lead to a short-term 10% relief rally bounce on the news."
For more ratings news on Constant Contact click here and for the rating history of Constant Contact click here.
Shares of Constant Contact closed at $18.64 yesterday.
Canaccord analyst, Richard Davis, said, "We expect CTCT shares to pop once its Social Media product goes live in the near future. We will then evaluate the firm’s likely execution at that point...We have inched our price target down by $2 to reflect the multiple depressing effects of the market’s August meltdown."
"Implications for Constant Contact: time to step up. Investors don’t care if earnings grow but revenue growth decelerates. The key thing that we will be watching for is: 1) timing of the paid Social Media launch, 2) pricing strategy, and 3) apparent uptake trends. While management never set a specific launch date, we hoped for an early September launch. Constant Contact is completely mum on the launch date, so as far as we know, the launch could happen within days. In all likelihood, the simple announcement will probably lead to a short-term 10% relief rally bounce on the news."
For more ratings news on Constant Contact click here and for the rating history of Constant Contact click here.
Shares of Constant Contact closed at $18.64 yesterday.
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