Canaccord Genuity Reiterates a 'Buy' on SciQuest (SQI); User Conference Supports Positive View
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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, "We attended SciQuest’s User Group conference in Miami over the last two days and came away confident that a larger addressable market – via the combination of new product introductions and expansion into new verticals – and continued sales execution will lead to accelerating organic growth in 2013. If we are correct, it’s likely that SQI shares see a multiple expansion that lifts the stock well into the $20s."
"Customer feedback positive. We spoke with over two dozen attendees. Two key takeaways: customers were 1) very pleased with initial deployments, and 2) interested in a broader relationship with SciQuest. We also spoke with suppliers who view SciQuest as a partner that helps them enter e-procurement, but not at a prohibitive price (SciQuest, unlike other firms, does not charge suppliers to be on their network)."
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 $13.94 yesterday.
Analyst, Richard Davis, said, "We attended SciQuest’s User Group conference in Miami over the last two days and came away confident that a larger addressable market – via the combination of new product introductions and expansion into new verticals – and continued sales execution will lead to accelerating organic growth in 2013. If we are correct, it’s likely that SQI shares see a multiple expansion that lifts the stock well into the $20s."
"Customer feedback positive. We spoke with over two dozen attendees. Two key takeaways: customers were 1) very pleased with initial deployments, and 2) interested in a broader relationship with SciQuest. We also spoke with suppliers who view SciQuest as a partner that helps them enter e-procurement, but not at a prohibitive price (SciQuest, unlike other firms, does not charge suppliers to be on their network)."
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 $13.94 yesterday.
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