Canaccord Genuity Maintains Hold on magicJack VocalTec (CALL) Following 2Q15 Results

Canaccord Genuity maintained a Hold rating and $12.00 price target on magicJack VocalTec (NASDAQ: CALL) following the company's 2Q15 earnings results. magicJack reported in-line revenue at $25.4M. Full-year 2015 guidance was reiterated in conjunction with the earnings release.

Analyst Gregory Miller commented, "magicJack reported solid 2Q15 results with in-line revenue and significantly better-than-expected EBITDA margins as the company throttled back advertising spend. Underlying results, however, were more mixed with activations a little lighter than expected and access rights renewals continuing to decline sequentially. Management expects similar trends to persist over the next couple of quarters, which should be supportive enough of operating results while growth initiatives begin to ramp. In our view – depending upon the marketing spend to support growth initiatives – 1H15 results render full-year 2015 guidance, which was reiterated in conjunction with the earnings release, increasingly achievable."

For an analyst ratings summary and ratings history on VocalTec Communications click here. For more ratings news on VocalTec Communications click here.

Shares of VocalTec Communications closed at $9.19 yesterday.

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