Credit Suisse Lowers Price Target on IntraLinks Holdings (IL), No Major Indicators of Growth
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Price: $6.07 -2.1%
Rating Summary:
4 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
4 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade IL Now!
Credit Suisse is reiterating its Outperform rating on shares of IntraLinks Holdings (NYSE: IL), but is lowering its price target from $30 to $27.
The company released its Q1 results with EPS of $0.10 and $52.4 million in revenue, which was inline with the firms estimates of $0.09 and $52.3 million.
The lack of upside in Q1 and the weak Q2 guidance is what caused the stock to depreciate 30% lately. IL did announce a customer will not be spending its usual $2 million a quarter, but no other customer controls that much of the company's revenue so the firm doesn't believe it matters that much.
Credit Suisse comments, "We believe business momentum overall is solid and expect strong enterprise growth going forward as Life Sciences, new horizontal solutions (GC and CFO), and productivity improves following the hire of Tony Kender as EVP of Sales."
The firm is lowering its FY11 revenue and EPS estimates from $222 million and $0.52 to $218 million and $0.50.
For more ratings news on IntraLinks Holdings click here and for the rating history of IntraLinks Holdings click here.
Shares of IntraLinks Holdings closed at $20.22 yesterday, with a 52 week range of $11.44-$32.25.
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The company released its Q1 results with EPS of $0.10 and $52.4 million in revenue, which was inline with the firms estimates of $0.09 and $52.3 million.
The lack of upside in Q1 and the weak Q2 guidance is what caused the stock to depreciate 30% lately. IL did announce a customer will not be spending its usual $2 million a quarter, but no other customer controls that much of the company's revenue so the firm doesn't believe it matters that much.
Credit Suisse comments, "We believe business momentum overall is solid and expect strong enterprise growth going forward as Life Sciences, new horizontal solutions (GC and CFO), and productivity improves following the hire of Tony Kender as EVP of Sales."
The firm is lowering its FY11 revenue and EPS estimates from $222 million and $0.52 to $218 million and $0.50.
For more ratings news on IntraLinks Holdings click here and for the rating history of IntraLinks Holdings click here.
Shares of IntraLinks Holdings closed at $20.22 yesterday, with a 52 week range of $11.44-$32.25.
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