UBS Upgraded Concur Technologies (CNQR) to Buy; Strong Q1 and Prospects
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: 14 | Down: 11 | New: 36
Rating Summary:
2 Buy, 18 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 14 | Down: 11 | New: 36
Join SI Premium – FREE
UBS upgraded Concur Technologies (NASDAQ: CNQR) from Neutral to Buy. PT raised from $48 to $66.
UBS analyst says, "Upgrading to Buy and PT based on: 1) FQ1 rev & eps beat on strong core T&E business in seasonally slow qtr; 2) FY12 rev guide raise supported by strong FQ1 bookings after recent +35% y/y trend; 3) we expect a return to consistent small beat & raise thru the yr; 4) doubling of distribution capacity by FY13 should more than support 25% rev growth; 5) highly predictable model (95% visibility into FY) due to sticky pdt (high 90s retention) & few credible competitors; 6) abundant growth opportunities; 7) attractive M&A target."
"CNQR is one of largest SaaS vendors with attractive horizontal pdts. Past strategic software M&A typically priced at 5-9x; SAP/SFSF deal was 8.1x."
To see more ratings on CNQR, Click Here
UBS analyst says, "Upgrading to Buy and PT based on: 1) FQ1 rev & eps beat on strong core T&E business in seasonally slow qtr; 2) FY12 rev guide raise supported by strong FQ1 bookings after recent +35% y/y trend; 3) we expect a return to consistent small beat & raise thru the yr; 4) doubling of distribution capacity by FY13 should more than support 25% rev growth; 5) highly predictable model (95% visibility into FY) due to sticky pdt (high 90s retention) & few credible competitors; 6) abundant growth opportunities; 7) attractive M&A target."
"CNQR is one of largest SaaS vendors with attractive horizontal pdts. Past strategic software M&A typically priced at 5-9x; SAP/SFSF deal was 8.1x."
To see more ratings on CNQR, Click Here
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Piper Sandler Upgrades Akamai Technologies (AKAM) to Overweight
- Goldman Sachs Upgrades Capstone Copper Corp (CS:CN) (CSFFF) to Buy
- Argus Upgrades Abercrombie & Fitch (ANF) to Buy
Create E-mail Alert Related Categories
UpgradesRelated Entities
UBSSign 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!
