Needham & Company Reiterates a 'Buy' on ReachLocal (RLOC); Conservative FY12 Guidance Creates Beat and Raise Opportunities
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Price: $4.60 --0%
Rating Summary:
2 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on ReachLocal (NASDAQ: RLOC) price target raised from $10 to $12.
Analyst, Kerry Rice, says, "We believe ReachLocal’s FY12 guidance could prove conservative given management’s more cautious stance on the potential negative impact of the macro, FX, and new market entry risks. While international markets should be the primary FY12 revenue driver, upside could come from the North America market, newly entered markets, and non-search products. Beyond entering new international markets, ReachLocal is launching growth initiatives that could provide an incremental boost to our FY13 estimates."
For an analyst ratings summary and ratings history on ReachLocal click here. For more ratings news on ReachLocal click here.
Shares of ReachLocal closed at $8.34 yesterday.
Analyst, Kerry Rice, says, "We believe ReachLocal’s FY12 guidance could prove conservative given management’s more cautious stance on the potential negative impact of the macro, FX, and new market entry risks. While international markets should be the primary FY12 revenue driver, upside could come from the North America market, newly entered markets, and non-search products. Beyond entering new international markets, ReachLocal is launching growth initiatives that could provide an incremental boost to our FY13 estimates."
For an analyst ratings summary and ratings history on ReachLocal click here. For more ratings news on ReachLocal click here.
Shares of ReachLocal closed at $8.34 yesterday.
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