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UBS Keeps Buy on Jive Software (JIVE) after Strong Q4, Trims PT

February 6, 2013 1:54 PM EST Send to a Friend
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Price: $5.83 -1.52%

Rating Summary:
    5 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 25 | Down: 20 | New: 23
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UBS trimmed its price target on Buy-rated Jive Software (NASDAQ: JIVE) from $20 to $19 following solid Q4 results although they noted heavy 2013 investments surprised investors.

The analyst notes: "JIVE had a strong finish as Q4 metrics beat UBSe: rev +44% y/y vs. +39%, EPS -$0.14/-$0.16, billings +44%/28%, def rev +50%/44%, FCF -$2.9M/-3.1M. FY13 rev guided to $148-153M, inline with St. $151M but below UBSe $157M, but 30-35% implied growth looks conservative vs. FY12 billings growth +46%. FY13 oper loss guide of -$33-37M is worse than our prior -$13M but reflects accelerated investments in both S&M and R&D as JIVE sees mainstream buying of enterprise social software coming in 2013. CY13E EV/S 6.2x attractive if rev can exceed 35%."

For an analyst ratings summary and ratings history on Jive Software click here. For more ratings news on Jive Software click here.

Shares of Jive Software closed at $14.57 yesterday.

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