Canaccord Genuity maintains a 'Hold' on NetSuite (N); Once Again, a Solid Quarter; We Will Wait for Break in Stock Price
Tweet
Share
E-mailGet Alerts N Hot Sheet
Price: $90.34 --0%
Rating Summary:
7 Buy, 24 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 24 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Canaccord Genuity maintains a 'Hold' on NetSuite (NYSE: N) price target raised $3 to $35.00.
Canaccord analyst, Richard Davis, said, "NetSuite reported another very good quarter. We realize that valuation is an art, but with the stock trading for more than 9x 2012E revenues and 67x FCF, we are left to wait in the wings in hopes that some exogenous event, perhaps something in Europe, will irrationally knock the stock back, at which point we could feel like we’re not upgrading the stock at the high end of a probable valuation range."
For more ratings news on NetSuite click here and for the rating history of NetSuite click here.
Shares of NetSuite closed at $39.72 yesterday.
Canaccord analyst, Richard Davis, said, "NetSuite reported another very good quarter. We realize that valuation is an art, but with the stock trading for more than 9x 2012E revenues and 67x FCF, we are left to wait in the wings in hopes that some exogenous event, perhaps something in Europe, will irrationally knock the stock back, at which point we could feel like we’re not upgrading the stock at the high end of a probable valuation range."
For more ratings news on NetSuite click here and for the rating history of NetSuite click here.
Shares of NetSuite closed at $39.72 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Viking Holdings (VIK) PT Raised to $82 at Mizuho
- Cummins (CMI) PT Lowered to $675 at Jefferies
- DA Davidson Starts Comfort Systems USA (FIX) at Buy
Create E-mail Alert Related Categories
Analyst CommentsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
