Canaccord Genuity Reiterates a 'Buy' on SciQuest (SQI); Favorite Small Cap GARP Stock

May 4, 2012 10:36 AM EDT
Get Alerts SQI Hot Sheet
Price: $17.75 --0%

Rating Summary:
    6 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 29 | Down: 30 | New: 23
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Canaccord Genuity reiterates a 'Buy' on SciQuest (NASDAQ: SQI) price target of $20.00.

Analyst, Richard Davis, said, "While we have to pay attention to the 90 day report card (which was fine), the key item that we took away from SQI’s March quarter was that the coiled spring of accelerating growth for 2013E is intact and on target. The stock has traded in periodic blocks this quarter, which probably means that investors can expect the stock price-punishing “whack a mole” distribution strategy will be completed sometime this summer. If so, that should set SQI shares up for a significant advance as investors focus on an acceleration of growth from a good 2012 year. SQI remains our favorite small cap GARP stock."

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

Shares of SciQuest closed at $14.71 yesterday.

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