Jefferies Raises Price Target on Medidata Solutions (MDSO) to $41; Reiterates Underperform
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Jefferies reiterated an Underperform rating on Medidata Solutions (NASDAQ: MDSO), and raised the price target to $41.00 (from $36.00), following the company's 3Q earnings report. Management's reaffirmed guidance and optimistic view of current demand is underpinned by a steady stream of competitive displacements in EDC, growing demand for Balance and CTMS, and new automation opportunity in Payments.
Analyst David Windley commented, "Solid 3Q earnings and a reaffirmed FY16 guidance indicate business is progressing to plan near term. Recent enterprise deals should continue their revenue ramp in FY17 and should slightly accelerate revenue growth. Management's LT commentary was bullish, but we believe the stock discounts revenue growth acceleration that will be hard to attain. We raise our PT to $41, but maintain Underperform."
Shares of Medidata Solutions closed at $49.42 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: BMO Capital Upgrades Williams Partners LP (WPZ) to Outperform
- Clovis Oncology (CLVS) PT Raised to $86 as Stifel Adopts Takeout Valuation
- Expect Facebook (FB) To Show Strong Q4 Report, Monitor For Guidance On Expenses - Goldman Sachs
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!