Oppenheimer Maintains an 'Outperform' on BMC Software (BMC); In Need of a Trim
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Price: $45.20 +0.13%
Rating Summary:
8 Buy, 10 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
8 Buy, 10 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade BMC Now!
Oppenheimer maintains an 'Outperform' on BMC Software (NASDAQ: BMC) price target of $44.00 (from $46.00).
Analyst, Shaul Eyal, said, "Following June results, we are lowering our price target and reducing our FY14E as we adopt a more cautious stance in response to a strengthening US dollar, European economic/political uncertainty and global macro weakness. Results missed consensus, pressured by currency trends, European demand deceleration, and an ESM sales transition which increased the number of lower tenured sales staff, penalizing efficiency. ESM sales transition pressures should improve during FY13. BMC maintained prior FY13 EPS guidance, and despite near term challenges, we believe the company is well-positioned to leverage important IT trends including SaaS and cloud computing."
For an analyst ratings summary and ratings history on BMC Software click here. For more ratings news on BMC Software click here.
Shares of BMC Software closed at $39.60 yesterday, with a 52 week range of $31.62-$45.70.
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Analyst, Shaul Eyal, said, "Following June results, we are lowering our price target and reducing our FY14E as we adopt a more cautious stance in response to a strengthening US dollar, European economic/political uncertainty and global macro weakness. Results missed consensus, pressured by currency trends, European demand deceleration, and an ESM sales transition which increased the number of lower tenured sales staff, penalizing efficiency. ESM sales transition pressures should improve during FY13. BMC maintained prior FY13 EPS guidance, and despite near term challenges, we believe the company is well-positioned to leverage important IT trends including SaaS and cloud computing."
For an analyst ratings summary and ratings history on BMC Software click here. For more ratings news on BMC Software click here.
Shares of BMC Software closed at $39.60 yesterday, with a 52 week range of $31.62-$45.70.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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