Needham & Company Maintains a 'Buy' on Constant Contact (CTCT); Remains A Favorite Idea Given Favorable Risk/Reward
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Price: $32.01 --0%
Rating Summary:
2 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
2 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Needham & Company maintains a 'Buy' on Constant Contact (NASDAQ: CTCT) price target raised from $29 to $33.
Analyst, Michael Huang, said, "Q4 played out pretty much as we expected. Netadd performance was inline and unimpressive at 15K (vs. 15K in 3Q11 vs. 20K in 4Q10), but ahead of worst-case scenarios (10K) which likely some skeptics were likely betting on. As expected, a dominant focus on the call was on Social Campaigns, an easy to use tool that enables Facebook campaigns and complements core email. We’re encouraged that 10,000 users (mostly existing customers) are already using the product (not paid yet), including roughly 50% who would qualify for paid pricing. Given that the free trial ends in 30 days, we’re optimistic that we could see some meaningful free to paid conversions by early to mid March (which benefits ARPU)."
For an analyst ratings summary and ratings history on Constant Contact click here. For more ratings news on Constant Contact click here.
Shares of Constant Contact closed at $26.00 yesterday.
Analyst, Michael Huang, said, "Q4 played out pretty much as we expected. Netadd performance was inline and unimpressive at 15K (vs. 15K in 3Q11 vs. 20K in 4Q10), but ahead of worst-case scenarios (10K) which likely some skeptics were likely betting on. As expected, a dominant focus on the call was on Social Campaigns, an easy to use tool that enables Facebook campaigns and complements core email. We’re encouraged that 10,000 users (mostly existing customers) are already using the product (not paid yet), including roughly 50% who would qualify for paid pricing. Given that the free trial ends in 30 days, we’re optimistic that we could see some meaningful free to paid conversions by early to mid March (which benefits ARPU)."
For an analyst ratings summary and ratings history on Constant Contact click here. For more ratings news on Constant Contact click here.
Shares of Constant Contact closed at $26.00 yesterday.
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