Morgan Joseph Reiterates a 'Buy' on GlobalSCAPE (GSB); Reports 1Q11, Pipeline Remains Strong

Morgan Joseph reiterates a 'Buy' on GlobalSCAPE (NYSE: GSB), PT $3.50.

Morgan analyst says, "We continue to project 2011 sales of $20mm, although our EPS estimate is now $0.03, versus $0.01 previously given our optimism regarding GlobalSCAPE's ability to manage operating expenses. For 2012, we are maintaining our sales and EPS forecast of $24mm and $0.13, respectively. Based on the revenue opportunities we foresee from new products, Professional Services, and Managed Services, we believe GlobalSCAPE is well-positioned for growth."

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

Shares of GlobalSCAPE closed at $2.50 yesterday.

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