Deutsche Bank Downgrades IntraLinks Holdings (IL) to Hold; Growth Uncertainty

Deutsche Bank downgraded IntraLinks Holdings (NYSE: IL) fromBuy to Hold, price target cut from $20 to $7.

Deutsche analyst says, "IntraLinks reported 3Q revenue of $54.3m (excluding a $0.5m onetime payment), towards the low end of guidance and below our/Street estimates of $54.5m. EPS of $0.11 was below us/Street at $0.13/$0.12. Enterprise growth was impacted by non-renewals at several project-based engagements, without usual cross-sell of additional use cases, due to sales force restructuring. Uncertainty around Enterprise fundamentals and SEC investigation overhang leads us to reduce our forward estimates and downgrade to Hold."

For an analyst ratings summary and ratings history on IntraLinks Holdings click here. For more ratings news on IntraLinks Holdings click here.

Shares of IntraLinks Holdings closed at $8.79 yesterday.

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