FBR Capital Maintains an 'Outperform' on Digital River (DRIV); Delivers Good March Results; Starting to Look More Like a First-Round Pick
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Price: $36.10 +0.95%
Rating Summary:
2 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital maintains an 'Outperform' on Digital River (NASDAQ: DRIV), PT $41.
FBR analyst says, "As evidenced last night, and given our recent checks on the name, we feel incrementally more confident that the combination of marquee customers wins, a strong value proposition, versus in-house solutions, and healthy e-commerce secular trends should help Digital River massively expand its deal activity in 2011/2012...To this point, we believe the ramping of new and existing customer deployments will continue to put fuel in this growth engine for the next 12 to 18 months and add further confidence to the Digital River story."
"For FY11, we are slightly raising our total revenue and pro forma EPS estimates to $405.4 million and $1.15, versus our prior estimates of $404.9 million and $1.14. For FY12, we are maintaining our total revenue estimate of $468.7 million while lowering our pro forma EPS estimate from $1.68 to $1.66, solely to reflect a higher-than-expected share count."
For more ratings news on Digital River click here and for the rating history of Digital River click here.
Shares of Digital River closed at $36.03 yesterday.
FBR analyst says, "As evidenced last night, and given our recent checks on the name, we feel incrementally more confident that the combination of marquee customers wins, a strong value proposition, versus in-house solutions, and healthy e-commerce secular trends should help Digital River massively expand its deal activity in 2011/2012...To this point, we believe the ramping of new and existing customer deployments will continue to put fuel in this growth engine for the next 12 to 18 months and add further confidence to the Digital River story."
"For FY11, we are slightly raising our total revenue and pro forma EPS estimates to $405.4 million and $1.15, versus our prior estimates of $404.9 million and $1.14. For FY12, we are maintaining our total revenue estimate of $468.7 million while lowering our pro forma EPS estimate from $1.68 to $1.66, solely to reflect a higher-than-expected share count."
For more ratings news on Digital River click here and for the rating history of Digital River click here.
Shares of Digital River closed at $36.03 yesterday.
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