Canaccord Genuity Reiterates a 'Buy' on Constant Contact (CTCT) on 'Pretty Good' Quarter; Positive on New Products

Canaccord Genuity reiterates a 'Buy' on Constant Contact (NASDAQ: CTCT) price target of $35.00.

Analyst, Richard Davis, said, "Despite low-end net customer additions, CTCT’s addition of 35,000 paying and currently free social customer adds in two months as well as a $0.60 sequential jump in ARPU makes us incrementally more positive on CTCT’s fundamentals, likely direction of earnings revisions (up), and stock price (heading to mid-$30s). We would use last night’s 9% swoon to buy the stock at an attractive price."

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 $28.51 yesterday.

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