Needham & Company Maintains a 'Buy' on Constant Contact (CTCT); Still Believe Growth is Coming

June 14, 2012 8:59 AM EDT
Get Alerts CTCT Hot Sheet
Price: $32.01 --0%

Rating Summary:
    3 Buy, 14 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
Trade CTCT Now!
Join SI Premium – FREE
Needham & Company maintains a 'Buy' on Constant Contact (NASDAQ: CTCT) price target of $27.00 (from $39.00).

Analyst, Michael Huang, said, "While shares were hammered yesterday on investor concerns that CTCT is overpaying for an asset in order to offset weakness in its core business, we believe this negative view could be both exaggerated and off base. The risk/reward for owning CTCT shares is compelling (1.7x EV/12Rev), in our view, given CTCT's product breadth and market opportunity and given our view that key metrics should reaccelerate through 2H12 and beyond."

FY12 EPS estimate cut from $0.89 to $0.56 and FY13 from $1.19 to $0.78

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 $16.62 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Needham & Company

Add Your Comment