Needham & Company Reiterates a 'Buy' on Velti (VELT); Addressing the Bear Arguments & Revisiting Our Bull Thesis

Needham & Company reiterates a 'Buy' on Velti (NASDAQ: VELT), PT $17.

Needham analyst says, "Following a successful IPO and a strong follow-up earnings report, VELT shares have under-performed and now trade slightly below the offering price. We think the bear thesis’ are flawed and that the current valuation represents an excellent entry point...We also revisit our investment thesis, which includes a large and high-growth end-market, strong traction w/ leading agencies, brands and operators, >40% forecasted revenue growth, and significant margin expansion and FCF improvement in CY11+."

For more ratings news on Velti click here and for the rating history of Velti click here.

Shares of Velti closed at $10.45 yesterday.

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