Canaccord Genuity Reiterates a 'Buy' on NetQin Mobile (NQ)l Raising Numbers After Strong Quarter
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Price: $2.20 --0%
Rating Summary:
4 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 1 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 NetQin Mobile (NYSE: NQ) price target raised to $17.00.
Analyst, T. Michael Walkley, said, "NQ Mobile reported strong Q1/12 revenue with registered, active, and paying user operating metrics above our estimates. Management also increased its 2012 sales guidance range. We believe NQ management is wisely investing to build a team and infrastructure necessary to support a global user base and larger company. We believe the fast growing smartphone market combined with strong mobile data growth and the increasing importance of downloading applications should result in strong growth trends for mobile security and productivity software suppliers. Given NQ Mobile’s strong share in China, expanding global customer base, and growing deals with leading wireless partners, we reiterate our rating."
Walkley raises FY12/13 sales estimates, maintains $0.65 EPS for FY12 and raises FY13 EPS from $0.91 to $0.94.
For an analyst ratings summary and ratings history on NetQin Mobile click here. For more ratings news on NetQin Mobile click here.
Shares of NetQin Mobile closed at $12.05 yesterday.
Analyst, T. Michael Walkley, said, "NQ Mobile reported strong Q1/12 revenue with registered, active, and paying user operating metrics above our estimates. Management also increased its 2012 sales guidance range. We believe NQ management is wisely investing to build a team and infrastructure necessary to support a global user base and larger company. We believe the fast growing smartphone market combined with strong mobile data growth and the increasing importance of downloading applications should result in strong growth trends for mobile security and productivity software suppliers. Given NQ Mobile’s strong share in China, expanding global customer base, and growing deals with leading wireless partners, we reiterate our rating."
Walkley raises FY12/13 sales estimates, maintains $0.65 EPS for FY12 and raises FY13 EPS from $0.91 to $0.94.
For an analyst ratings summary and ratings history on NetQin Mobile click here. For more ratings news on NetQin Mobile click here.
Shares of NetQin Mobile closed at $12.05 yesterday.
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