Wells Fargo Maintains an 'Outperform' on NetSuite (N); Renewed Conviction After Meeting w/ Mgmt

March 15, 2012 10:02 AM EDT
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Price: $90.34 --0%

Rating Summary:
    10 Buy, 26 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 9
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Wells Fargo maintains an 'Outperform' on NetSuite (NYSE: N) price target range $52-55 from $49-52.

Wells analyst said, "We walk away from our meetings with renewed conviction in our thesis that in the next few years NetSuite will be worth substantially more than it is today as it takes share in the multi-billion dollar SMB business application software market. As we see it, NetSuite has a number of technical and business model advantages that should enable revenue growth of 20%+ over the next five years. We believe the ongoing implementation of cloud based business applications and NetSuiteā€™s position as the leading suite provider in the SMB market should enable the company to continue to gain ground against established players and to drive legacy system replacements."

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

Shares of NetSuite closed at $47.72 yesterday.

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