Needham & Company Maintains a 'Hold' on NetSuite (N); Stellar Billings Growth Reflects Strength of Trends
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Price: $90.34 --0%
Rating Summary:
7 Buy, 24 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 9 | New: 13
Rating Summary:
7 Buy, 24 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 9 | New: 13
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Needham & Company maintains a 'Hold' on NetSuite (NYSE: N).
Analyst, Michael Huang, said, "The Q4 call was highlighted by accelerated bookings growth (36% y/y growth vs. 33% y/y in Q3), improving ASP (up 45% y/y vs. up 50% y/y in Q3), record channel contribution, improving large deal pipeline (up 100% y/y) and increased customer adds (350 vs.
265 in Q3 vs. 330 in Q2)."
"Even despite the billings upside (which was well ahead of street expectations for 25-30% y/y growth), pipelines appear to have expanded q/q entering Q1, reflecting the strength of demand trends and rising preference for SaaS Financials. Importantly, fundamentals continue to improve, as we’re seeing NetSuite play in more upmarket opportunities on the heels of rising SaaS maturity (more enterprises defining their SaaS strategies), a compelling product cycle (OneWorld) and a strengthening partner ecosystem."
For an analyst ratings summary and ratings history on NetSuite click here. For more ratings news on NetSuite click here.
Shares of NetSuite closed at $44.36 yesterday.
Analyst, Michael Huang, said, "The Q4 call was highlighted by accelerated bookings growth (36% y/y growth vs. 33% y/y in Q3), improving ASP (up 45% y/y vs. up 50% y/y in Q3), record channel contribution, improving large deal pipeline (up 100% y/y) and increased customer adds (350 vs.
265 in Q3 vs. 330 in Q2)."
"Even despite the billings upside (which was well ahead of street expectations for 25-30% y/y growth), pipelines appear to have expanded q/q entering Q1, reflecting the strength of demand trends and rising preference for SaaS Financials. Importantly, fundamentals continue to improve, as we’re seeing NetSuite play in more upmarket opportunities on the heels of rising SaaS maturity (more enterprises defining their SaaS strategies), a compelling product cycle (OneWorld) and a strengthening partner ecosystem."
For an analyst ratings summary and ratings history on NetSuite click here. For more ratings news on NetSuite click here.
Shares of NetSuite closed at $44.36 yesterday.
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