Jefferies Raises Price Target on Medidata Solutions (MDSO) to $41; Reiterates Underperform
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get inside Wall Street with StreetInsider Premium. Claim your 2-week 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
- Jefferies Raises Price Target on Zumiez, Inc. (ZUMZ) to $23 Following 3Q
- Jefferies Raises Price Target on Ulta Salon (ULTA) to $270; Reiterates Hold
- Mizuho Securities Cuts Price Target on Express (EXPR) Following 3Q Miss
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!