Needham & Company Maintains a 'Buy' on Constant Contact (CTCT); Calling On Chamber of Commerce’s to Take a Pulse on Trends
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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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Needham & Company maintains a 'Buy' on Constant Contact (NASDAQ: CTCT) price target of $29.00.
Needham analyst says, "We had the opportunity to catch up with 10 chamber of commerce’s to get a perspective on Constant Contact and small business trends. Our sense is that trends are relatively stable and we continue to believe that the upcoming launch of a social media marketing product could represent a driver of accelerated customer and revenue growth in 2012, likely mitigating investors’ concerns with the viability of the business model and opportunity ahead. The small business environment appears to be mildly improving, and chambers are emphasizing the importance of more frequent relationship marketing across a variety of channels."
"CTCT shares are down 32% over the last 3 months (vs. NASDAQ down 6%) and reflect significant negativity around the direction of trends (trading at 1.8x EV/2011 revs). We’re buyers ahead of the important Social marketing launch which we believe could reaccelerate trends and growth rates through 2012."
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 $16.58 yesterday.
Needham analyst says, "We had the opportunity to catch up with 10 chamber of commerce’s to get a perspective on Constant Contact and small business trends. Our sense is that trends are relatively stable and we continue to believe that the upcoming launch of a social media marketing product could represent a driver of accelerated customer and revenue growth in 2012, likely mitigating investors’ concerns with the viability of the business model and opportunity ahead. The small business environment appears to be mildly improving, and chambers are emphasizing the importance of more frequent relationship marketing across a variety of channels."
"CTCT shares are down 32% over the last 3 months (vs. NASDAQ down 6%) and reflect significant negativity around the direction of trends (trading at 1.8x EV/2011 revs). We’re buyers ahead of the important Social marketing launch which we believe could reaccelerate trends and growth rates through 2012."
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 $16.58 yesterday.
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