KeyBanc Upgrades Kenexa (KNXA) to Buy
More News related to KNXA
- Amnesty International Chooses Kenexa for Enhanced Recruitment of People Who Want to Make a Difference Around the Globe
- Kenexa Creates Development Centers to Help E.ON Embed HR's Business Partner Model
- Kenexa Appoints Eric Lochner as Chief Marketing Officer
- Kenexa Names Sarah Teten to New Role as Chief Customer Officer
- Kenexa Recognized as a Talent Management Systems Leader in Bersin & Associates Research
More News related to Upgrades
- RBC Upgrades Silver Wheaton (SLW) to Outperform
- Thomas Weisel Upgrades AnnTaylor (ANN) to Overweight
- J.P. Morgan Upgrades J.M. Smucker (SJM) to Overweight
- Bernstein Upgrades AmerisourceBergen (ABC) to Market Perform
- Soleil Securites Upgrades Zions Bancorporation (ZION) to Buy; Pullback Provides an Attractive Entry Point
KeyBanc upgrades Kenexa Corp (Nasdaq: KNXA) to Buy. Price target $11.
KeyBanc analyst says, "KNXA reported 1Q results in line with consensus expectations. More significantly, deferred revenue was up sequentially by about $3 million in a very challenging economic environment. We believe this increase reflected strong sales of applicant tracking (ATS) solutions in multi-element deals including consulting and content, and we expect the Company to see benefits to its subscription line by the 3Q and beyond. We see room for a recovery in KNXA's EV/ revenue multiple, which appears cyclically depressed, as sequential revenue stability emerges later in 2009 and costs remain controlled. Although we are not modeling a robust recovery for KNXA's recruitment process outsourcing (RPO) business, we think non-RPO consulting and content sales could rebound as a recovery takes root, possibly providing top-line upside. We are increasing our EPS estimates by $0.02 in 2009 and $0.07 in 2010 to reflect better subscription revenue on the strength of KNXA's solution sales in ATS and (secondarily) performance management."
Kenexa Corporation provides software, content and services that enable organizations to effectively recruit and retain employees.
To see more analyst ratings on KNXA Click Here.
Related Categories
UpgradesStocks Mentioned
+0.00Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
