Needham & Company Maintains a 'Buy' on Concur Tech (CNQR); The SunBridge Glow Brings Life To The Japan Opportunity
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Price: $128.78 --0%
Rating Summary:
2 Buy, 18 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 18 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Concur Tech (NASDAQ: CNQR), PT $62.
Needham analyst says, "We had the opportunity to catch up with management at SunBridge, Concur’s JV partner in Japan, to get a perspective on SaaS trends and opportunities in Japan. In sum, the conversation was positive in tone, and we’re increasingly confident that Japan Concur - leveraging SunBridge’s Japan and SaaS domain expertise - could be strong out of the gate and represent a credible growth driver over the next several years. We don’t believe it would be too farfetched of a scenario to see Concur Japan drive 1-2 points of growth in CY2012 (roughly $4-5 million of revenue), which could certainly could inspire investor confidence over the direction of growth rates through next year and beyond."
For more ratings news on Concur click here and for the rating history of Concur click here.
Shares of Concur closed at $47.85 yesterday.
Needham analyst says, "We had the opportunity to catch up with management at SunBridge, Concur’s JV partner in Japan, to get a perspective on SaaS trends and opportunities in Japan. In sum, the conversation was positive in tone, and we’re increasingly confident that Japan Concur - leveraging SunBridge’s Japan and SaaS domain expertise - could be strong out of the gate and represent a credible growth driver over the next several years. We don’t believe it would be too farfetched of a scenario to see Concur Japan drive 1-2 points of growth in CY2012 (roughly $4-5 million of revenue), which could certainly could inspire investor confidence over the direction of growth rates through next year and beyond."
For more ratings news on Concur click here and for the rating history of Concur click here.
Shares of Concur closed at $47.85 yesterday.
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