Auriga Reiterates a 'Buy' on Medidata Solutions (MDSO) on Competitive Positioning, Valuation

Auriga reiterates a 'Buy' on Medidata Solutions (NASDAQ: MDSO), PT $32.

Auriga analyst says, "We are coming to the defense of Medidata Solutions (MDSO, BUY) in light of the recent sell-off in shares, which we view as unwarranted. Business remains fundamentally solid according to our checks and the Company's competitive position has never been better. Areas of consternation around the name may include the reported backlog number which wasn't as strong as expected, and insider selling under the company's 10b-51 program. In our view, these elements (which are entirely explainable) are more than offset by MDSO's positioning in the market, strong growth and margin characteristics, and compelling valuation. We see 40% upside to the share from current levels."

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

Shares of Medidata Solutions closed at $22.60 yesterday.

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