Bazaarvoice (BV): First Profitable Year Could Be FY18 - Needham
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Needham & Company analyst, Scott Berg, reiterated his Buy rating on Bazaarvoice (NASDAQ: BV) after the company reported a generally in-line 2Q with continued strong cost controls and incremental improvement in dollar churn rates.
The metrics and commentary indicate that momentum in the company's SaaS segment continues to improve not only in lower dollar churn, but also with accelerating bookings growth of 12% for continuing products. Although 2Q saw some deal slippage in its newer Shopper Advertising product, 3Q has caught up for this slippage yielding improved visibility into reaching guided 25-35% media revenue growth rates.
Profitability continues to improve as the company reported EBITDA of $5.2mm. The analyst believes this traction indicates FY18 could be the company's first ever profitable year. No change to the Buy rating on improving financial optics and favorable sales trends.
No change to the price target of $7.
Shares of Bazaarvoice closed at $5.30 yesterday.
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