Exa (EXA) Rough Patch Temporary - Analyst
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Price: $8.62 +2.86%
Rating Summary:
2 Buy, 2 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
2 Buy, 2 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade EXA Now!
Following the company's Q3 earnings report, Needham & Company maintained a Buy on Exa Corporation (NASDAQ: EXA) and trimmed its price target to $13.00 (from $14.00).
Commenting on the results, analyst James Ricchiuti said "EXA's customers became incrementally more cautious going into October, resulting in FQ3 revenues coming in modestly below prior guidance."
Ricchiuti thinks cautiousness is likely to carry through FQ4, but noted that management appears optimistic that license revenue growth will accelerate in the coming year.
"EXA's shares are likely to pull back today on the disappointing results and weaker FQ4 guidance, but assuming customers' investment plans play out as mgmt expects, as budget cycles open up in CY13, we believe investors should look beyond this near-term rough patch and focus on EXA's attractive long-term growth prospects," concluded the analyst.
For an analyst ratings summary and ratings history on Exa Corporation (NASDAQ: EXA) click here. For more ratings news on Exa Corporation click here.
Shares of Exa Corporation closed at $11.91 yesterday, with a 52 week range of $9.00-$13.40.
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Commenting on the results, analyst James Ricchiuti said "EXA's customers became incrementally more cautious going into October, resulting in FQ3 revenues coming in modestly below prior guidance."
Ricchiuti thinks cautiousness is likely to carry through FQ4, but noted that management appears optimistic that license revenue growth will accelerate in the coming year.
"EXA's shares are likely to pull back today on the disappointing results and weaker FQ4 guidance, but assuming customers' investment plans play out as mgmt expects, as budget cycles open up in CY13, we believe investors should look beyond this near-term rough patch and focus on EXA's attractive long-term growth prospects," concluded the analyst.
For an analyst ratings summary and ratings history on Exa Corporation (NASDAQ: EXA) click here. For more ratings news on Exa Corporation click here.
Shares of Exa Corporation closed at $11.91 yesterday, with a 52 week range of $9.00-$13.40.
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