Jefferies Maintains Bullish Stance on Velti (VELT) After Q4

Jefferies reiterated their Buy rating and $23 price target on Velti (NASDAQ: VELT) following strong Q4 results, despite fears they would miss.

The firm comments, "In contrast to widespread fears that VELT would miss Q4, VELT beat revenue and EPS expectations with EPS of $0.59 vs. St $0.48. 2012 guidance was well above the Street (though not all sell-side estimates included the recent acquisitions). We raise our 2012 estimates and believe VELT is uniquely positioned to capitalize on the shift of advertising and marketing initiatives to mobile devices."

Jefferies cut Q1 EPS form $0.04 to $0.03 and FY12 from $0.66 to $0.88.

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

Shares of Velti closed at $12.49 yesterday.

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