Canaccord Genuity Maintains a 'Hold' on NetSuite (N); Stock Expensive Unless Facebook is the New Valuation Benchmark
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Price: $90.34 --0%
Rating Summary:
7 Buy, 24 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 14 | Down: 11 | New: 36
Rating Summary:
7 Buy, 24 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 14 | Down: 11 | New: 36
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Canaccord Genuity maintains a 'Hold' on NetSuite (NYSE: N) price target raised from $35 to $38.
Analyst, Richard Davis, said, "NetSuite is a fine company that has a significant opportunity in the mid-market to displace legacy general ledger competitors. We simply find a 9x and 7x revenue multiple for a company growing revenues at a sub-30% pace too high. Perhaps the stock will never break, in which case our HOLD will be wrong. Then again, even SFSF’s shares became sufficiently cheap for us to recommend when investors overreacted to a minor sin. Priced for perfection, we do not believe N offers sufficient risk/reward to allow our conscience to give this stock a Buy rating. We’ll stay at HOLD for now."
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, Richard Davis, said, "NetSuite is a fine company that has a significant opportunity in the mid-market to displace legacy general ledger competitors. We simply find a 9x and 7x revenue multiple for a company growing revenues at a sub-30% pace too high. Perhaps the stock will never break, in which case our HOLD will be wrong. Then again, even SFSF’s shares became sufficiently cheap for us to recommend when investors overreacted to a minor sin. Priced for perfection, we do not believe N offers sufficient risk/reward to allow our conscience to give this stock a Buy rating. We’ll stay at HOLD for now."
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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