Needham & Company Maintains a 'Buy' on Medidata Solutions (MDSO); Favorable Demand Environment

May 2, 2012 9:05 AM EDT Send to a Friend
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Price: $47.02 +5.47%

Rating Summary:
    14 Buy, 2 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 21 | Down: 43 | New: 52
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Needham & Company maintains a 'Buy' on Medidata Solutions (NASDAQ: MDSO) price target raised from $30 to $35.

Analyst, Michael Huang, said, "MDSO’s Q1 call was highlighted by accelerating app revenue growth, raised revenue/EPS guidance, more multi-product deals, a strong pipeline, and competitive takeaways. We were particularly impressed that roughly 25% of new customers purchased more than one product (vs. single digit % a year ago), which we believe reflects the credibility of MDSO’s broader platform and product cycles...We are buyers of MDSO given valuation that we see as favorable (2.9x EV/12Revs) and accelerating trends."

FY12 EPS estimate cut from $1.28 to $1.12 and FY13 from $1.56 to $1.49.

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 $28.64 yesterday.


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