Needham & Company Maintains a 'Buy' on CA (CA); Prospects For Acceleration in FY13
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Price: $24.95 +0.40%
Rating Summary:
0 Buy, 17 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
0 Buy, 17 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Needham & Company maintains a 'Buy' on CA (NASDAQ: CA) price target of $32.00.
Analyst, Scott Zeller, said, "The F4Q12(Mar) CA results were solid on revenue and EPS basis, though bookings were down -18% y/y as reported. As we look forward to FY13, and the prospects for acceleration of subscription revenue, we focus on the “renewal portfolio” CA starts the year (and each quarter) with. In the just-completed FY12, the “opportunity” for renewals started off the year -20% (substantial headwind, clearly), but finished FY12 down “near 15%”. In a relative improvement, the starting point for the new year FY13 is “down in single digits” suggesting CA sales people will have fewer headwinds out of the starting gate, as they attempt to renew existing subscriptions. With the “less bad”
starting point for FY13, it is possible bookings may improve y/y, and guidance may be conservative for FY13 subscription."
For an analyst ratings summary and ratings history on CA click here. For more ratings news on CA click here.
Shares of CA closed at $26.41 yesterday.
Analyst, Scott Zeller, said, "The F4Q12(Mar) CA results were solid on revenue and EPS basis, though bookings were down -18% y/y as reported. As we look forward to FY13, and the prospects for acceleration of subscription revenue, we focus on the “renewal portfolio” CA starts the year (and each quarter) with. In the just-completed FY12, the “opportunity” for renewals started off the year -20% (substantial headwind, clearly), but finished FY12 down “near 15%”. In a relative improvement, the starting point for the new year FY13 is “down in single digits” suggesting CA sales people will have fewer headwinds out of the starting gate, as they attempt to renew existing subscriptions. With the “less bad”
starting point for FY13, it is possible bookings may improve y/y, and guidance may be conservative for FY13 subscription."
For an analyst ratings summary and ratings history on CA click here. For more ratings news on CA click here.
Shares of CA closed at $26.41 yesterday.
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