Jefferies Maintains a 'Buy' on Medidata Solutions (MDSO); Making The Backlog Rain

August 1, 2012 7:25 AM EDT Send to a Friend
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Price: $42.52 --0%

Rating Summary:
    14 Buy, 2 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 1 | Down: 0 | New: 2
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Jefferies maintains a 'Buy' on Medidata Solutions (NASDAQ: MDSO) price target of $41.00 (from $34.00).

Analyst, David Windley, said, "MDSO signed a large "strategic" deal in 2Q. At maturity (24-36 months away), this deal should generate 3-4x the revenue this "top-10 pharma" client currently contributes. Management said it is in similar talks with other biopharmas, and believes similar deals can follow (timing unpredictable). Competitive displacements and up/cross-selling also continued at a record pace. MDSO's revenue growth outlook is bright."

FY12 EPS estimate cut from $1.14 to $1.12 and FY13 from $1.45 to $1.44.

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

Shares of Medidata Solutions closed at $35.41 yesterday.


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