Needham & Company Maintains a 'Buy' on SuccessFactors (SFSF); Positivism Deafening After Preannounced Thunder

Needham & Company maintains a 'Buy' on SuccessFactors (NASDAQ: SFSF) price target raised $2 to $34.

Needham analyst says, "Given the positive preannouncement last week at the user conference, the Q3 call was devoid of any significant surprise; we continue to believe that billings growth was top of class and impressive (up 42% y/y vs. 42% y/y in Q2, and up 26% net of Plateau legacy subscriptions); the billings performance reflects strength across product areas, new and existing customers, and geographies."

For more ratings news on SuccessFactors click here and for the rating history of SuccessFactors click here.

Shares of SuccessFactors closed at $27.27 yesterday.

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