ACI Worldwide (ACIW) Pullback Crates Attractive Entry - Canaccord Genuity

Canaccord Genuity analyst Joseph Vafi reiterated a Buy rating and $44.00 price target on ACI Worldwide (NASDAQ: ACIW), saying the pull-back post Q4 pre-release creates an attractive entry point.

The analyst commented, "Q4's pre-release to the downside underscores our view that the ACI sales cycle -- at least for large, on premise license deals -- often remains greater than the 90-day financial reporting cycle. In this particular case, we do not see a pushed deal as lost business, and we are encouraged that management decided not to include this business in guidance for 2020. Net net, we see no other changes to the cadence of the ACI business opportunity for 2020. Medium term we remain bullish on the company's position within the emerging market for real time payments solutions. As real time payments begin what we believe to be inevitable adoption by industry, we believe ACI will become an increasingly strategic FinTech asset."

For an analyst ratings summary and ratings history on ACI Worldwide click here. For more ratings news on ACI Worldwide click here.

Shares of ACI Worldwide closed at $37.08 yesterday.

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