Oppenheimer Defends Constant Contact (CTCT); Shares at Bargain Basement Prices
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Price: $16.98 +3.60%
Rating Summary:
4 Buy, 11 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
4 Buy, 11 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade CTCT Now!
Oppenheimer maintains an 'Outperform' on Constant Contact (NASDAQ: CTCT) price target of $27.00 (from $30.00).
Analyst, Brian Schwartz, said, "We think the ongoing weakness in the share price over the past two months has likely reached a stabilizing point and hence made the current valuation attractive. Constant Contact's mindshare with its customers is very strong, which gives us incremental comfort that traction with new products sales, like SinglePlatform, will lead to a reacceleration of top-line growth and margin improvements in 2013."
Schwartz cuts FY12 EPS estimate from $0.87 to $0.57 and FY13 from $1.10 to $0.86.
For an analyst ratings summary and ratings history on Constant Contact click here. For more ratings news on Constant Contact click here.
Shares of Constant Contact closed at $18.75 yesterday, with a 52 week range of $14.46-$32.18.
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Analyst, Brian Schwartz, said, "We think the ongoing weakness in the share price over the past two months has likely reached a stabilizing point and hence made the current valuation attractive. Constant Contact's mindshare with its customers is very strong, which gives us incremental comfort that traction with new products sales, like SinglePlatform, will lead to a reacceleration of top-line growth and margin improvements in 2013."
Schwartz cuts FY12 EPS estimate from $0.87 to $0.57 and FY13 from $1.10 to $0.86.
For an analyst ratings summary and ratings history on Constant Contact click here. For more ratings news on Constant Contact click here.
Shares of Constant Contact closed at $18.75 yesterday, with a 52 week range of $14.46-$32.18.
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