Goldman Sachs Upgrades Demandware (DWRE) to Buy, Sees 42% Upside
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Price: $30.65 +3.06%
Rating Summary:
10 Buy, 1 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
10 Buy, 1 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade DWRE Now!
Goldman Sachs upgraded Demandware (NYSE: DWRE) from Neutral to Buy with a price target of $32, suggesting 42 percent upside.
The firm said the 28 percent pullback in the stock due to Europe weakness "offering an attractive entry for a leading SaaS and E-Commerce player."
Goldman cited: "1) organic growth should accelerate to 36% in 2013 from 26% in 2012 even with a 50% reduction in revenues from Neckermann, 2) customer signings should improve, and 3) e-commerce secular trends remain strong even in a weak macro and we want to get ahead of the 4Q holiday season, which has the potential to drive upside.
For an analyst ratings summary and ratings history on Demandware click here. For more ratings news on Demandware click here.
Shares of Demandware closed at $22.52 yesterday, with a 52 week range of $21.35-$31.98.
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The firm said the 28 percent pullback in the stock due to Europe weakness "offering an attractive entry for a leading SaaS and E-Commerce player."
Goldman cited: "1) organic growth should accelerate to 36% in 2013 from 26% in 2012 even with a 50% reduction in revenues from Neckermann, 2) customer signings should improve, and 3) e-commerce secular trends remain strong even in a weak macro and we want to get ahead of the 4Q holiday season, which has the potential to drive upside.
For an analyst ratings summary and ratings history on Demandware click here. For more ratings news on Demandware click here.
Shares of Demandware closed at $22.52 yesterday, with a 52 week range of $21.35-$31.98.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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