RealPage (RP) PT Raised to $45 at Deutsche Bank

Deutsche Bank raised its price target on RealPage (NASDAQ: RP) to $45.00 (from $42.00) while maintaining a Buy rating.

Analyst Nandan Amladi commented, "We remain buyers of RP after tonight’s relatively clean print. RP reported rev/ EPS of $162.3m/$0.23 vs. estimates of $160.m/$0.22, as sales increased ~14% y/y. RP raised the FY17 revenue guidance to $661m-$667m, including the AUM acquisition (but excluding the On-Site and LRO acquisitions yet to close), with EPS in the $0.89-0.93 range, leaving, we believe, some room for outperformance. The well-telegraphed inorganic revenue ramp continues with the new $250m On- Site acquisition announced today. We reaffirm our Buy rating and raise PT to $45 from $42 on the combination of healthy revenue growth and improving margins."

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