Needham & Company Maintains a 'Buy' on Concur (CNQR); HQ Visit Highlights No Lack of Opportunities Ahead
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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 (NASDAQ: CNQR) price target of $48.00.
Needham analyst says, "We had the opportunity to sit down with CNQR's CEO, Steve Singh, and CFO, Frank Pelzer, at CNQR's headquarters. The meeting reinforced our confidence in the direction of trends and the opportunities ahead. We didn’t detect any step up in concerns over the macro environment, likely reflecting a continued strength of customer signings and an expanding pipeline on the heels of ramping distribution. Importantly, we don't anticipate a replay of 2008 when unemployment nearly doubled overnight, large customers fell off the map, and customers were frozen with panic and fear, all of which caused significant revenue deceleration through 2009."
For more ratings news on Concur click here and for the rating history of Concur click here.
Shares of Concur closed at $41.22 yesterday.
Needham analyst says, "We had the opportunity to sit down with CNQR's CEO, Steve Singh, and CFO, Frank Pelzer, at CNQR's headquarters. The meeting reinforced our confidence in the direction of trends and the opportunities ahead. We didn’t detect any step up in concerns over the macro environment, likely reflecting a continued strength of customer signings and an expanding pipeline on the heels of ramping distribution. Importantly, we don't anticipate a replay of 2008 when unemployment nearly doubled overnight, large customers fell off the map, and customers were frozen with panic and fear, all of which caused significant revenue deceleration through 2009."
For more ratings news on Concur click here and for the rating history of Concur click here.
Shares of Concur closed at $41.22 yesterday.
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