Dougherty & Co Upgrades Constant Contact (CTCT) to Neutral Following 20% Decline YTD
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Price: $32.01 --0%
Rating Summary:
2 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Dougherty & Co upgraded shares of Constant Contact (NASDAQ: CTCT) to a Neutral rating from its previous rating of Sell, but reiterated its $28 price target.
The firm reports that the upgrade represents the 20 fall that the stock has experienced year-to-date. They believe that this implies the Street has already priced in all of the near-term issues and risks.
An analyst at Dougherty notes, "Q2 net customer additions will likely meet expectations, and net unique customer additions comparisons could get easier next year from the anticipated release of the social media product later this year."
Dougherty's current FY11 and FY12 EPS estimates are $0.62 and $0.89, while its revenue estimates are $216.1 million and $263 million for the two years.
For more ratings news on Constant Contact click here and for the rating history of Constant Contact click here.
Shares of Constant Contact closed at $24.42 yesterday.
The firm reports that the upgrade represents the 20 fall that the stock has experienced year-to-date. They believe that this implies the Street has already priced in all of the near-term issues and risks.
An analyst at Dougherty notes, "Q2 net customer additions will likely meet expectations, and net unique customer additions comparisons could get easier next year from the anticipated release of the social media product later this year."
Dougherty's current FY11 and FY12 EPS estimates are $0.62 and $0.89, while its revenue estimates are $216.1 million and $263 million for the two years.
For more ratings news on Constant Contact click here and for the rating history of Constant Contact click here.
Shares of Constant Contact closed at $24.42 yesterday.
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