Bottomline Technologies (EPAY): Beat/Guide Down Leads To PT Cut - Needham
- Wall Street opens flat as investors assess earnings
- General Motors (GM) Tops Q3 EPS by 28c
- Procter & Gamble (PG) Tops Q1 EPS by 5c
- DuPont (DD) Tops Q3 EPS by 14c; Boosts FY16 EPS Outlook; Says Continuing to Work with Regulators
- Pre-Open Stock Movers 10/25: (SAEX) (CWEI) (SWFT) Higher; (DPRX) (CRBP) (UA) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Needham & Company analyst, Mayank Tandon, reiterated his Buy rating on Bottomline Technologies (NASDAQ: EPAY), after the company reported upside for 4Q, exceeding on revenue, operating margins and earnings. Solid 15% constant currency growth in the subscription & transaction segment and operating leverage drove the upside results.
Management reduced the outlook for FY17 to account for FX headwinds and a change in the non-GAAP income tax methodology. Excluding these effects there is no change to the outlook, with constant currency growth and operating margin guidance unchanged.
Management also announced a $60MM share buyback, which combined with the solid results and stable outlook should help reassure investors that fundamentals are intact.
The price target drops to $28 from $30.
Shares of Bottomline Technologies closed at $20.82 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UBS Cuts Price Target on V.F. Corp. (VFC) to $59; Reiterates Buy
- NXP Semiconductors (NXPI) PT Raised at Oppenheimer Ahead of Earnings and Potential M&A
- UBS Raises Price Target on Greenhill & Co. (GHL) to $17; Reiterates Sell
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesNeedham & Company, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!