Jefferies Sees Messy Transition at Velti (VELT) But Keeps 'Buy' Rating
Tweet Send to a FriendGet Alerts VELT Hot Sheet
Price: $2.02 -0.98%
Rating Summary:
3 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
3 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade VELT Now!
Jefferies slashed its price target on Velti (NASDAQ: VELT) from $12 to $8 but is keeping a Buy rating on the name following yesterday's 25% sell-off on cautious analyst day comments.
Commenting on the analyst meeting, Jefferies notes: "Velti focused on their platform and substantial opportunity. Despite 2013 capex being -50% Y/Y, we believe comments about H1 investments, poor Q1 FCF seasonality, and 2013 EBITDA being down Y/Y due to the divestiture will weigh on the stock. We cut our ests and target to $8. We think the messy transitions will yield more consistent execution but patience will be needed."
The firm cut FY13 EPS estimates from $0.81 to $0.50.
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 $4.09 yesterday, with a 52 week range of $3.07-$14.65.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Commenting on the analyst meeting, Jefferies notes: "Velti focused on their platform and substantial opportunity. Despite 2013 capex being -50% Y/Y, we believe comments about H1 investments, poor Q1 FCF seasonality, and 2013 EBITDA being down Y/Y due to the divestiture will weigh on the stock. We cut our ests and target to $8. We think the messy transitions will yield more consistent execution but patience will be needed."
The firm cut FY13 EPS estimates from $0.81 to $0.50.
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 $4.09 yesterday, with a 52 week range of $3.07-$14.65.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Dollar Tree (DLTR) Beats But Looks Stretched - Jefferies
- MKM Partners Lifts PT on KB Home (KBH) After Management Meetings
- UPDATE: MKM Partners Downgrades Alkermes (ALKS) to Sell
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst PT ChangeRelated Entities
Jefferies & Co
Login with Facebook
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!
