FBR Capital Maintains an 'Outperform' on Concur Technologies (CNQR); Good Quarter; Growth Initiatives Gaining Early Traction
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Price: $128.78 --0%
Rating Summary:
2 Buy, 18 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 3 | Down: 3 | New: 2
Rating Summary:
2 Buy, 18 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 3 | Down: 3 | New: 2
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FBR Capital maintains an 'Outperform' on Concur Technologies (NASDAQ: CNQR), PT increased from $58 to $60.
FBR analyst says, "We believe Concur's growth initiatives, specifically a focus on international expansion and the SMB market, will continue to incubate and over time provide a new layer of growth on top of a healthy core business—all of which we believe should drive accelerating revenues and eventual margin expansion."
"We are maintaining our FY11 revenue estimate of $349 million and lowering our pro forma EPS estimate from $0.84 to $0.82 due to continued investments for growth. We are maintaining our 2012 revenue estimate of $425 million and lowering our pro forma EPS estimate from $1.15 to $1.13."
For more ratings news on Concur Technologies click here and for the rating history of Concur Technologies click here.
Shares of Concur Technologies closed at $55.64 yesterday.
FBR analyst says, "We believe Concur's growth initiatives, specifically a focus on international expansion and the SMB market, will continue to incubate and over time provide a new layer of growth on top of a healthy core business—all of which we believe should drive accelerating revenues and eventual margin expansion."
"We are maintaining our FY11 revenue estimate of $349 million and lowering our pro forma EPS estimate from $0.84 to $0.82 due to continued investments for growth. We are maintaining our 2012 revenue estimate of $425 million and lowering our pro forma EPS estimate from $1.15 to $1.13."
For more ratings news on Concur Technologies click here and for the rating history of Concur Technologies click here.
Shares of Concur Technologies closed at $55.64 yesterday.
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