UBS Reiterates a 'Buy' on Concur Technologies (CNQR): A Favorite Saas Play and Attractive M&A Target
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Price: $128.78 --0%
Rating Summary:
2 Buy, 18 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 18 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS reiterates a 'Buy' on Concur Technologies (NASDAQ: CNQR) price target raised from $66 to $70.
Analyst, Brent Thill, said, "Revenue growth of 28.1% beat 25% guide driven by upside in customer deployments (espec. SMBs) and travel transaction volume (implying healthy enterprise core). Newer growth initiatives, such as India, Japan, and migration of legacy ADP-sourced customer base achieved stronger than expected bookings. Overall, F1H12 bookings growth are running faster than FY11’s 35% pace – which bodes well for continued 25%+ revenue growth in FY13. CNQR remains one of our favorite SaaS plays, with highly predictable revenues and as an attractive M&A target."
UBS bumps FY12 EPS estimate by $0.02 to $0.87 and FY13 by $0.03 to $1.11.
For an analyst ratings summary and ratings history on Concur Technologies click here. For more ratings news on Concur Technologies click here.
Shares of Concur Technologies closed at $57.98 yesterday.
Analyst, Brent Thill, said, "Revenue growth of 28.1% beat 25% guide driven by upside in customer deployments (espec. SMBs) and travel transaction volume (implying healthy enterprise core). Newer growth initiatives, such as India, Japan, and migration of legacy ADP-sourced customer base achieved stronger than expected bookings. Overall, F1H12 bookings growth are running faster than FY11’s 35% pace – which bodes well for continued 25%+ revenue growth in FY13. CNQR remains one of our favorite SaaS plays, with highly predictable revenues and as an attractive M&A target."
UBS bumps FY12 EPS estimate by $0.02 to $0.87 and FY13 by $0.03 to $1.11.
For an analyst ratings summary and ratings history on Concur Technologies click here. For more ratings news on Concur Technologies click here.
Shares of Concur Technologies closed at $57.98 yesterday.
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