Needham & Company Assumes Amber Road (AMBR) at Buy

Needham & Company assumes coverage on Amber Road (NYSE: AMBR) with a Buy rating and a price target of $7.00 (from $8.00).

Analyst Scott Berg commented, "We like the company’s value proposition in a complex yet largely underpenetrated $6B plus end market that we believe should drive secular demand for its products. However, the company’s recent sales execution issues have created the most unfavorable situation for a SaaS company: lower than expected growth (aided by a large customer loss) with an inelastic operating model in the short term driving a larger net loss and high cash burn levels. But we believe these issues are likely fully baked into the current stock valuation that is hovering near trough levels for SaaS companies, and we believe the current valuation will prove attractive if the sales execution issues are transitory as we expect."

For an analyst ratings summary and ratings history on Amber Road click here. For more ratings news on Amber Road click here.

Shares of Amber Road closed at $4.54 yesterday.

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