Wedbush Says Buy Tibco Software (TIBX) on Weakness

December 5, 2012 7:57 AM EST
Get Alerts TIBX Hot Sheet
Price: $24.03 --0%

Rating Summary:
    7 Buy, 19 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Yesterday Tibco Software, Inc. (NASDAQ: TIBX) reported weak Q4 results and guidance, leading analysts at Wedbush to cut their price target on the stock to $30.00 (from $37.00), while maintaining an Outperform rating.

Commenting on TIBX results, analyst Steve Koenig said, "We believe generalized cautiousness in enterprise spending is the primary factor behind TIBX's 4Q miss, rather than any change in TIBX's competitive position in the infrastructure software and analytics markets."

"While the 4Q miss is disappointing, TIBX's long-term growth opportunity looks largely intact. We continue to believe that TIBX's mix of growth categories positions the company to benefit from technology trends such as in-memory computing and real-time analytics, while valuation looks reasonable," added the analyst.

Wedbush is advising investors Buy this morning's weakness.

For an analyst ratings summary and ratings history on Tibco Software, Inc. (NASDAQ: TIBX) click here. For more ratings news on Tibco Software, Inc. click here.

Shares of Tibco Software, Inc. closed at $24.72 yesterday.

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