Needham & Company Maintains a 'Buy' on Conqur (CNQR); Solid Q1 Extends The Positive Trend

Needham & Company maintains a 'Buy' on Conqur (NASDAQ: CNQR) price target of $65.00.

Analyst, Michael Huang, said, "Q1 was solid, highlighted by continued strength of new bookings (not quantified, but up notably y/y) and upside to topline, op margins, and earnings estimates. Concur remains one of our favorite SaaS names, especially given increasing conviction in accelerating growth over the next several years."

"For F2012, we’re revising up our revenue estimates to $438.6 million from $436 million (implies 25.5% y/y growth) and increasing our EPS estimates to $0.84 from $0.81."

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

Shares of Conqur closed at $54.04 yesterday.

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