Needham & Company Maintains a 'Buy' on Constant Contact (CTCT); Facebook Timelines Not Disrupting Much
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Price: $32.01 --0%
Rating Summary:
2 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Constant Contact (NASDAQ: CTCT) price target of $39.00.
Analyst, Michael Huang, said, "We recently caught up with the CTCT CEO and leadership from a few other social marketing companies and were able to get some perspectives on recently announced Facebook Timeline for brands. While we acknowledge that this new design format elevates the importance of more Facebook pages as the centerpiece of Facebook marketing strategies, we’re still bullish that Social Campaigns along with recently launched SaveLocal could represent key drivers of ARPU and net add performance through the year and beyond. While at first blush, one could jump to the conclusion that Facebook Timeline throws a wrench into CTCT’s Social Campaign product cycle, we do not believe this is the case."
"CTCT is one of our favorite SaaS names given concerns – overstated, in our view, -- with the direction of trends and the sustainability of the business model. Risk/reward looks compelling at 3x EV/2012E, which suggests significant multiple expansion as trends accelerate and as investor concerns should be mitigated through next year."
For an analyst ratings summary and ratings history on Constant Contact click here. For more ratings news on Constant Contact click here.
Shares of Constant Contact closed at $29.61 yesterday.
Analyst, Michael Huang, said, "We recently caught up with the CTCT CEO and leadership from a few other social marketing companies and were able to get some perspectives on recently announced Facebook Timeline for brands. While we acknowledge that this new design format elevates the importance of more Facebook pages as the centerpiece of Facebook marketing strategies, we’re still bullish that Social Campaigns along with recently launched SaveLocal could represent key drivers of ARPU and net add performance through the year and beyond. While at first blush, one could jump to the conclusion that Facebook Timeline throws a wrench into CTCT’s Social Campaign product cycle, we do not believe this is the case."
"CTCT is one of our favorite SaaS names given concerns – overstated, in our view, -- with the direction of trends and the sustainability of the business model. Risk/reward looks compelling at 3x EV/2012E, which suggests significant multiple expansion as trends accelerate and as investor concerns should be mitigated through next year."
For an analyst ratings summary and ratings history on Constant Contact click here. For more ratings news on Constant Contact click here.
Shares of Constant Contact closed at $29.61 yesterday.
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