Dougherty & Co. Raises Price Target on VASCO Data Security (VDSI) Following Deal with Sony (SNE)
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Price: $21.80 --0%
Rating Summary:
4 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Dougherty & Co is maintaining its Buy rating on shares of VASCO Data Security (NASDAQ: VDSI) while raising its price target from $15 to $18.
At the Sony Online Entertainment Fan Fair, Sony's Online Entertainment President announced that Vasco's DIGIPASS Go6 would be added to the company's security as an extra layer of protection.
The firm believes that the deal could prove to be quit meaningful for the company as it can be purchased from Sony's website for $9.99, but notes that it will be available for mobile use soon for free.
Currently, Sony Online Entertainment Authenticator is not vailable for Sony’s PlayStation Network, which has more than 75 million user accounts. The firm anitcipates that it is only a matter of time before they do accept it, along with other gaming companies. Dougherty & Co states that VDSI is the best positioned to gain from the new security demand in the gaming industry.
An analyst at Dougherty & Co comments, "We believe gaining Sony as a potential multi-million dollar customer will bring significant exposure to VDSI and its two-factor authentication solutions. We anticipate SOE Authenticator users will be exposed to VDSI’s DIGIPASS as a Service offering, where VDSI will offer strong authentication to a number of websites for various fees."
Due to the company’s record backlog at year-end 2010 and continued strong order momentum, the firm forecasts that VDSI will top its Q2 estimates and increase its FY11 guidance. The firms current Q2 EPS and revenue estimates are $0.07 and $37 million while its 2011 estimates are $0.32 and $150.4 million. For 2012 it estimates EPS of $0.50 and revenue of $175 million.
For more ratings news on VASCO Data Security click here and for the rating history of VASCO Data Security click here.
Shares of VASCO Data Security closed at $12.88 yesterday.
At the Sony Online Entertainment Fan Fair, Sony's Online Entertainment President announced that Vasco's DIGIPASS Go6 would be added to the company's security as an extra layer of protection.
The firm believes that the deal could prove to be quit meaningful for the company as it can be purchased from Sony's website for $9.99, but notes that it will be available for mobile use soon for free.
Currently, Sony Online Entertainment Authenticator is not vailable for Sony’s PlayStation Network, which has more than 75 million user accounts. The firm anitcipates that it is only a matter of time before they do accept it, along with other gaming companies. Dougherty & Co states that VDSI is the best positioned to gain from the new security demand in the gaming industry.
An analyst at Dougherty & Co comments, "We believe gaining Sony as a potential multi-million dollar customer will bring significant exposure to VDSI and its two-factor authentication solutions. We anticipate SOE Authenticator users will be exposed to VDSI’s DIGIPASS as a Service offering, where VDSI will offer strong authentication to a number of websites for various fees."
Due to the company’s record backlog at year-end 2010 and continued strong order momentum, the firm forecasts that VDSI will top its Q2 estimates and increase its FY11 guidance. The firms current Q2 EPS and revenue estimates are $0.07 and $37 million while its 2011 estimates are $0.32 and $150.4 million. For 2012 it estimates EPS of $0.50 and revenue of $175 million.
For more ratings news on VASCO Data Security click here and for the rating history of VASCO Data Security click here.
Shares of VASCO Data Security closed at $12.88 yesterday.
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