Medidata Solutions (MDSO) PT Lowered to $35 at Jefferies

Jefferies analyst David Windley reiterated a Hold rating and lowered his price target on Medidata Solutions (NASDAQ: MDSO) to $35.00 (from $42.00) following Q4 results.

Windley commented, "Our LT concerns remain regarding the size of MDSO's TAM, as well as demand durability from small clients if biotech funding softens further. Weak 4Q15 results and '16 guide are not representative of recent pace of new business wins. Bookings grew an impressive 53% in '15 (i.e. $500M of new software and services revenue); however, due to some contracting nuances and long revenue ramps, most of the resulting benefits will not accrue until '17 and beyond."

For an analyst ratings summary and ratings history on Medidata Solutions click here. For more ratings news on Medidata Solutions click here.

Shares of Medidata Solutions closed at $32.30 yesterday.

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