Auriga Reiterates a 'Buy' on Medidata Solutions (MDSO); Solid as a Rock; Accounting Distractions & Macro Not Helping
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Price: $92.22 --0%
Rating Summary:
5 Buy, 11 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
5 Buy, 11 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Auriga reiterates a 'Buy' on Medidata Solutions (NASDAQ: MDSO) price target of $33.00.
Auriga analyst says, "We are reiterating our rating on MDSO in light of recent investor calls with management, whose strong performance is offset by a wave of bearish signals on the surface, compounded by a challenging market backdrop. In our view, while not recession-proof, MDSO's pharma and biotech customers are impacted more by regulatory events (e.g. FDA decisions) and less the global economy. In fact, MDSO delivered then-record bookings during the recession of 2009 and is hovering slightly above its $15 IPO price despite our expectation for operating income this year to be triple that of 2009. We recommend aggressive purchase of the shares at current levels."
For more ratings news on Medidata Solutions click here and for the rating history of Medidata Solutions click here.
Shares of Medidata Solutions closed at $16.25 yesterday.
Auriga analyst says, "We are reiterating our rating on MDSO in light of recent investor calls with management, whose strong performance is offset by a wave of bearish signals on the surface, compounded by a challenging market backdrop. In our view, while not recession-proof, MDSO's pharma and biotech customers are impacted more by regulatory events (e.g. FDA decisions) and less the global economy. In fact, MDSO delivered then-record bookings during the recession of 2009 and is hovering slightly above its $15 IPO price despite our expectation for operating income this year to be triple that of 2009. We recommend aggressive purchase of the shares at current levels."
For more ratings news on Medidata Solutions click here and for the rating history of Medidata Solutions click here.
Shares of Medidata Solutions closed at $16.25 yesterday.
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