Vocera (VCRA) PT Raised to $16 at Leerink Partners Following 'Beat'
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Rating Summary:
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Leerink Partners analyst David Larsen reiterated an Outperform rating and boosted his price target on Vocera Communications (NYSE: VCRA) to $16.00 (from $15.00) following the Q4 beat.
Larsen commented, "VCRA reported 4Q:15 total revenue of $28.4M (+15.3% y/y), which was well above our estimate (of $27.3M), consensus (of $26.7M) and also exceeded the guidance range of $25.3-27.3M. The beat was driven by product revenue, and while there were higher sales and marketing expenses, this was due to commissions on strong 4Q:15 bookings, and overall the revenue beat flowed through the P&L and led to an adjusted EBITDA profit of $0.2M. We are impressed by the bookings figure, backlog, and overall sales traction across small and large customer segments. The 2016 revenue guide came in well ahead of expectations, and we believe VCRA has good momentum heading into 2016. Maintain OP, PT to $16 (from $15)."
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 $13.20 yesterday.
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