Needham & Company Maintains a 'Buy' on Constant Contact (CTCT); SaveLocal Is On The Move

Needham & Company maintains a 'Buy' on Constant Contact (NASDAQ: CTCT) price target of $39.00.

Analyst, Michael Huang, said, "We had the opportunity to participate in a couple of “Getting Started with SaveLocal” webinars over the past week to get additional perspectives on this recently launched, customer-top-of-mind product. Both workshops were positive in tone and were decently attended (roughly 20 participants per webinar). We believe CTCT did a good job of educating customers of the importance of daily deals (acquire new customers, reward existing customers, better utilize existing capacity, clear excess inventory, launch a new product, etc), and of showcasing how SaveLocal addresses shortcomings (cost, control, ownership of customer data) of other competitive daily deals services such as GroupOn. And importantly, we’re encouraged by CTCT’s ability to demonstrate that it could be easy, risk-free, and affordable for a non-techsavvy small merchant to run daily deals end-to-end leveraging SaveLocal and Email Marketing products."

For an analyst ratings summary and ratings history on Constant Contact click here. For more ratings news on Constant Contact click here.

Shares of Constant Contact closed at $29.96 yesterday.

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