Auriga Reiterates a 'Buy/Top Pick' on Medidata Solutions (MDSO); "Apple" of Clinical Trial Software

Auriga reiterates a 'Buy' on Medidata Solutions (NASDAQ: MDSO) price target raised from $33 to $36.

Analyst, Gene Mannheimer, said, "Skeptics that question the growth story should now have comfort, given management's revenue guidance raise from low-mid teens growth to mid-high teens growth. This is through strong bookings of both core RAVE products for traditional electronic data capture (EDC) as well as strength from new products introduced over the past several quarters. Its competitive position is strengthening also, with accelerating displacements at the expense of the market leader. Finally, while investing for growth in FY12, leading to flat EBITDA margins year-year, MDSO's highly attractive SaaS model should drive outsized earnings and margins longer term. We are increasing our price target by $3 based on higher FY13 estimates."

For an analyst ratings summary and ratings history on Medidata Solutions click here. For more ratings news on Medidata Solutions click here.

Shares of Medidata Solutions closed at $28.64 yesterday.

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