Needham & Company Maintains a 'Buy' Concur Tech (CNQR); Savoring The Accelerated Growth And Not Stressing The Temporary Margin Compression
Tweet
Share
E-mailGet Alerts CNQR Hot Sheet
Price: $128.78 --0%
Rating Summary:
2 Buy, 18 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
2 Buy, 18 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Join SI Premium – FREE
Needham & Company maintains a 'Buy' Concur Tech (NASDAQ: CNQR) price target boosted from $48 to $62.
Needham analyst says, "Although more aggressive growth investments (i.e. adding 2x more sales headcount over the next 2 yrs) likely spurs some overstated concerns with near-term profitability (op margins compress 300 BP y/y in F2012), we’d prefer to focus investors on the strength of bookings (up 35% y/y in F2011 and accelerating) and the likelihood of accelerating rev growth through the next couple years, which represents the bigger driver of valuations ahead...We’re buyers especially on any weakness, given our increasing conviction over accelerating growth over the next several years, which we believe could drive multiple expansion intermediate term."
For an analyst ratings summary and ratings history on Concur Tech click here. For more ratings news on Concur Tech click here.
Shares of Concur Tech closed at $48.03 yesterday.
Needham analyst says, "Although more aggressive growth investments (i.e. adding 2x more sales headcount over the next 2 yrs) likely spurs some overstated concerns with near-term profitability (op margins compress 300 BP y/y in F2012), we’d prefer to focus investors on the strength of bookings (up 35% y/y in F2011 and accelerating) and the likelihood of accelerating rev growth through the next couple years, which represents the bigger driver of valuations ahead...We’re buyers especially on any weakness, given our increasing conviction over accelerating growth over the next several years, which we believe could drive multiple expansion intermediate term."
For an analyst ratings summary and ratings history on Concur Tech click here. For more ratings news on Concur Tech click here.
Shares of Concur Tech closed at $48.03 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham Starts Pulse Biosciences (PLSE) at Buy
- Guggenheim Starts Scribe Therapeutics Inc (SCTX) at Buy
- Barclays Upgrades Schott Pharma AG (1SXP:GR) to Overweight
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Needham & CompanySign 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!
