Oppenheimer Raises Price Target on Vocera Communications, Inc. (VCRA) to $22
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Oppenheimer reiterated an Outperform rating on Vocera Communications, Inc. (NYSE: VCRA), and raised the price target to $22.00 (from $19.00), following the company's 3Q earnings report. 2016 revenue guidance was raised from $116-121M to $126-128M vs. the consensus estimate of $120M. EPS was raised from $0.00-0.09 to $0.01-0.07 vs. the consensus' of $0.05 estimate.
Analyst Mohan Naidu commented, "Vocera reported numbers that beat estimates handily at $34M/$0.08 vs. our $30M/ $0.02 estimate. The company also reported strong growth in government deal flow including a $14M deal with MEDCOM and traction in both HC and non-healthcare segment (three nuclear plants and one in hospitality). The magnitude of the deal flow, and the Extension HC acquisition, raise our CY17 estimates significantly. Organically, the deal flow increases our confidence in the high double-digit growth into CY17, and further traction with cross-selling could lift the overall growth in excess of 20%. We continue to believe the increased importance of communication solutions at hospitals will continue to drive the company’s growth. Remain Outperform, raising target to $22 from $19."
Shares of Vocera Communications closed at $17.14 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MKM Partners Raises Price Target on Finisar (FNSR) to $43 Following 2Q
- KLR Group Cuts Price Target on Bill Barrett (BBG) to $9; Reiterates Buy
- Jefferies Raises Price Target on Broadcom Ltd. (AVGO) to $210 Following 4Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesEarnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!