Medidata Solutions (MDSO) PT Raised to $65 at Needham & Company

Needham & Company analyst Michael Huang reiterated a Buy rating and raised his price target on Medidata Solutions (NASDAQ: MDSO) to $65.00 (from $50.00) following a "credible" quarter and new CFO suggests strengthening trends.

Huang commented, "The Q1 report was solid across the board and an encouraging start to the year, especially when compared to last year’s earnings variability q/q. Moreover, while it's never great news to see the loss of a CFO/7-year veteran, we’re still relieved/encouraged that his replacement is a highly credible CFO (was CFO of SAP North America for the past couple years). This hire, on the back of recent hire of ADP veteran Mike Capone, is well-aligned with management’s obvious ambitions to support the next phase of growth."

The firm adjusted FY 2015 EPS from $0.85 to $0.84.

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

Shares of Medidata Solutions closed at $57.54 yesterday.

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