FBR Capital Remains Bullish on Vocera Communications, Inc. (VCRA) Following Announced Franciscan Alliance Contract

FBR Capital reiterated an Outperform rating and $15.00 price target on Vocera Communications (NYSE: VCRA) after the company held a business update call to provide some additional color around the Franciscan Alliance implementation. Management noted that this will be the largest deployment in Vocera's history. This is roughly three times larger than the company's prior largest deal at the University of North Carolina, which was valued at $3.6 million.

Analyst Steven Halper commented, "After the market close on Wednesday, January 6, Vocera held a business update call to provide some additional color around the Franciscan Alliance implementation that was announced earlier in the day. Management noted that this will be the largest deployment in Vocera's history. Additionally, Vocera is starting to see larger enterprise opportunities for its platform. It is important to note that Franciscan Alliance will implement the Vocera platform, and implementation is expected to take anywhere from 18 to 24 months. Overall, we are highly encouraged by the company's recent efforts to improve sales productivity. This latest deal should provide added confidence to investors that the enterprise model is working. We continue to rate the shares at Outperform."

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

Shares of Vocera Communications closed at $12.72 yesterday.

You May Also Be Interested In

• HSBC Downgrades Feng Tay Enterprises (9910:TT) to Hold
• Piper Sandler Downgrades Southwestern Energy (SWN) to Neutral
• CIMC Enric Holdings Ltd. (3899:HK) (CIMEF) PT Lowered to HK$8.70 at HSBC