UBS Maintains a 'Buy' on Nuance Communications (NUAN); Q1 Blues Hit Again
NUAN Hot Sheet
Rating Summary:6 Buy, 2 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 18 | Down: 7 | New: 26
UBS maintains a 'Buy' on Nuance Communications (NASDAQ: NUAN) price target raised $1 to $30.
UBS analyst says, "Expectations for Mobile segment were high going into FQ1 release, driven by success of iPhone 4S/Siri (Nasdaq: AAPL) and interest at CES conference. We were guilty too, modelling +3% q/q growth after -3% in F1Q11 & -1% in F1Q10; actual came in at -9%, or $108.5M vs. UBSe $122.3M, consensus $118M. Besides FQ1 seasonality, Mobile contracts are getting larger & more complex, leading to some delays in booking & rev rec timing, and confirming that revenues are not mainly unit-driven. We expect a rebound in FQ1-Q3, especially as OEMs scramble to ship products before ‘12 holiday season...FQ1 at bottom half of guidance range; maintain FY12 estimates of $1.58."
For an analyst ratings summary and ratings history on Nuance Communications click here. For more ratings news on Nuance Communications click here.
Shares of Nuance Communications closed at $30.45 yesterday, with a 52 week range of $15.56-$31.15.
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UBS analyst says, "Expectations for Mobile segment were high going into FQ1 release, driven by success of iPhone 4S/Siri (Nasdaq: AAPL) and interest at CES conference. We were guilty too, modelling +3% q/q growth after -3% in F1Q11 & -1% in F1Q10; actual came in at -9%, or $108.5M vs. UBSe $122.3M, consensus $118M. Besides FQ1 seasonality, Mobile contracts are getting larger & more complex, leading to some delays in booking & rev rec timing, and confirming that revenues are not mainly unit-driven. We expect a rebound in FQ1-Q3, especially as OEMs scramble to ship products before ‘12 holiday season...FQ1 at bottom half of guidance range; maintain FY12 estimates of $1.58."
For an analyst ratings summary and ratings history on Nuance Communications click here. For more ratings news on Nuance Communications click here.
Shares of Nuance Communications closed at $30.45 yesterday, with a 52 week range of $15.56-$31.15.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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