Canaccord Genuity Reiterates a 'Buy' on SciQuest (SQI); Accelerating Organic Growth Ahead Despite Bumpy Qtr
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Price: $17.75 --0%
Rating Summary:
6 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
6 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Buy' on SciQuest (NASDAQ: SQI) price target of $20.00.
Analyst, Richard Davis, said, "SciQuest missed Q4 revenues as requests for customization services slowed revenue recognition. The good news is that profitability measures (namely FCF) were better than expected, and management outlined a strategy to accelerate organic growth into the mid-20s over the course of this year. As investors gain confidence in this vision (product initiatives, increased sales capacity, improved time-to-live, etc.), we believe the valuation gap with other small-cap SaaS stocks will close, which should drive SQI shares at least into the $20s."
For an analyst ratings summary and ratings history on SciQuest click here. For more ratings news on SciQuest click here.
Shares of SciQuest closed at $15.04 yesterday.
Analyst, Richard Davis, said, "SciQuest missed Q4 revenues as requests for customization services slowed revenue recognition. The good news is that profitability measures (namely FCF) were better than expected, and management outlined a strategy to accelerate organic growth into the mid-20s over the course of this year. As investors gain confidence in this vision (product initiatives, increased sales capacity, improved time-to-live, etc.), we believe the valuation gap with other small-cap SaaS stocks will close, which should drive SQI shares at least into the $20s."
For an analyst ratings summary and ratings history on SciQuest click here. For more ratings news on SciQuest click here.
Shares of SciQuest closed at $15.04 yesterday.
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