Oppenheimer Maintains an 'Outperform' on Kenexa (KNXA); Mgmt Meeting Offers Increased Optimism
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Price: $45.96 --0%
Rating Summary:
1 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Oppenheimer maintains an 'Outperform' on Kenexa (NASDAQ: KNXA) price target raised from $30 to $33.00.
Oppenheimer analyst says, "We left our recent management meetings increasingly optimistic that demand for KNXA's solutions remains robust and believing it's gaining market share due to its expanding portfolio set, unique value proposition and recent consolidation in the HCM space. Additionally, despite investors' fears KNXA would see a barrage of RPO customers leave its platform, we don't believe that is the case and in fact expect healthy renewal rates (~80%) and a strong pipeline to drive another solid year for its RPO business. We expect these dynamics combined with a stable/improving employment environment to enable KNXA to walk 2012 estimates higher as the year unfolds. Additionally, given KNXA's large market opportunity and rising multiples across the group,"
For an analyst ratings summary and ratings history on Kenexa click here. For more ratings news on Kenexa click here.
Shares of Kenexa closed at $25.20 yesterday.
Oppenheimer analyst says, "We left our recent management meetings increasingly optimistic that demand for KNXA's solutions remains robust and believing it's gaining market share due to its expanding portfolio set, unique value proposition and recent consolidation in the HCM space. Additionally, despite investors' fears KNXA would see a barrage of RPO customers leave its platform, we don't believe that is the case and in fact expect healthy renewal rates (~80%) and a strong pipeline to drive another solid year for its RPO business. We expect these dynamics combined with a stable/improving employment environment to enable KNXA to walk 2012 estimates higher as the year unfolds. Additionally, given KNXA's large market opportunity and rising multiples across the group,"
For an analyst ratings summary and ratings history on Kenexa click here. For more ratings news on Kenexa click here.
Shares of Kenexa closed at $25.20 yesterday.
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