FBR Capital Remains Positive Following Vocera Communications, Inc. (VCRA) 3Q

FBR Capital reiterated an Outperform rating and $15.00 price target on Vocera Communications (NYSE: VCRA) following the company's 3Q15 earnings report. Consolidated revenue was $26.45 million in 3Q15, up 14.4% year over year. Management noted that bookings for 3Q15 were solid. Backlog and deferred grew year over year, with backlog at record levels.

Analyst Steven Halper commented, "On Tuesday, October 27, after the market close, Vocera reported strong 3Q15 results that were again ahead of expectations. Consolidated revenue and gross margin were better than our estimates. Adjusted loss per share was less than expected given the top-line beat. The company raised its 2015 revenue guidance yet again due to strong backlog and good visibility into 4Q15 trends. Management reduced its adjusted loss per share guidance range as well. The results indicate that the company's investments over the last few years are beginning to bear fruit. We continue to believe the shares are attractive from a risk/reward standpoint, especially over the longer term. Our DCF-based price target remains $15. The shares offer about 48% upside potential to our target. Our rating is Outperform."

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

Shares of Vocera Communications closed at $10.14 yesterday.

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