Canaccord Genuity Reiterates a 'Buy' on Constant Contact (CTCT); Outlining a Compelling Growth Strategy
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Price: $32.01 --0%
Rating Summary:
2 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 23
Rating Summary:
2 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 23
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Canaccord Genuity reiterates a 'Buy' on Constant Contact (NASDAQ: CTCT) price target of $28.00.
Canaccord analyst, Richard Davis, said, "Unless you want to make the case that Constant Contact’s business is about to accelerate downward, the stock seems far too inexpensively valued. After all, this is a company whose revenue growth looks set to grow 18% in 2012 and about 13-20% in 2013 with earnings growth a bit faster than 2x that pace. For that, you’re paying 17x 2012E ex-cash. While there is the very real challenge of a 20-24% annual churn rate, CTCT has a Social Media and international growth initiative from which, by our reckoning, management has incorporated effectively zero revenue contribution into guidance. There are no guarantees in stock selection, but it seems to us that CTCT has a particularly attractive risk/reward at this level."
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 $20.58 yesterday.
Canaccord analyst, Richard Davis, said, "Unless you want to make the case that Constant Contact’s business is about to accelerate downward, the stock seems far too inexpensively valued. After all, this is a company whose revenue growth looks set to grow 18% in 2012 and about 13-20% in 2013 with earnings growth a bit faster than 2x that pace. For that, you’re paying 17x 2012E ex-cash. While there is the very real challenge of a 20-24% annual churn rate, CTCT has a Social Media and international growth initiative from which, by our reckoning, management has incorporated effectively zero revenue contribution into guidance. There are no guarantees in stock selection, but it seems to us that CTCT has a particularly attractive risk/reward at this level."
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 $20.58 yesterday.
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