UPDATE: Nomura Securities Starts Concur Technologies (CNQR) at Buy, Calls Potential Takeover Target
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Price: $80.37 +0.89%
Rating Summary:
8 Buy, 10 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
8 Buy, 10 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade CNQR Now!
(Updated - August 7, 2012 11:22 AM EDT)
Nomura Securities initiates coverage on Concur Technologies (NASDAQ: CNQR) with a Buy. PT $80.00.
Analyst Frederick Grieb comments: "We are positive on the stock, as Concur is the leader in the large, underpenetrated travel & expense software market. Our FY13 and FY14 revenue estimates for Concur are 5.1% and 7.7%. Longer term, we believe the Street is understating the upside optionality potential from Concur monetizing its position as an intermediary between business travelers and hotel and rental car suppliers. Given the recent wave of consolidation in the SaaS space, and Concur's position as a large, growing SaaS vendor with little competition in its core market, we believe that Concur is a potential target."
For an analyst ratings summary and ratings history on Concur Technologies click here. For more ratings news on Concur Technologies click here.
Shares of Concur Technologies closed at $65.51 yesterday, with a 52 week range of $34.30-$69.89.
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Nomura Securities initiates coverage on Concur Technologies (NASDAQ: CNQR) with a Buy. PT $80.00.
Analyst Frederick Grieb comments: "We are positive on the stock, as Concur is the leader in the large, underpenetrated travel & expense software market. Our FY13 and FY14 revenue estimates for Concur are 5.1% and 7.7%. Longer term, we believe the Street is understating the upside optionality potential from Concur monetizing its position as an intermediary between business travelers and hotel and rental car suppliers. Given the recent wave of consolidation in the SaaS space, and Concur's position as a large, growing SaaS vendor with little competition in its core market, we believe that Concur is a potential target."
For an analyst ratings summary and ratings history on Concur Technologies click here. For more ratings news on Concur Technologies click here.
Shares of Concur Technologies closed at $65.51 yesterday, with a 52 week range of $34.30-$69.89.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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