Canaccord Genuity Maintains a 'Buy' on ExactTarget (ET); First Impressions Count - Strong Start
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Price: $21.05 +1.40%
Rating Summary:
22 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
22 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity maintains a 'Buy' on ExactTarget (NYSE: ET) price target of $32.00.
Analyst, Richard Davis, said, "Even adjusting for today’s fashion for conservative forecasting by analysts, Exact Target posted strong March quarter results. We continue to believe that the firm has several quarters of open field growth prospects in its core North American email market. If we are correct, this growth should carry the stock higher, roughly in line with the firm’s revenue growth. Longer term, we will look for ET to increase its social media functionality and revenue mix in order to enable the firm to emerge as a leading marketing automation solutions provider. We believe ET shares are attractively valued at current levels."
"We have increased our C2012 revenue and Adj. EBITDA estimates by $12M and $9.5M respectively to $272M (+31% y-o-y) and $7.0M (2.6% margin). We continue to believe that these estimates likely represent a base case scenario and that ET could post 35%+ growth."
For an analyst ratings summary and ratings history on ExactTarget click here. For more ratings news on ExactTarget click here.
Shares of ExactTarget closed at $24.22 yesterday.
Analyst, Richard Davis, said, "Even adjusting for today’s fashion for conservative forecasting by analysts, Exact Target posted strong March quarter results. We continue to believe that the firm has several quarters of open field growth prospects in its core North American email market. If we are correct, this growth should carry the stock higher, roughly in line with the firm’s revenue growth. Longer term, we will look for ET to increase its social media functionality and revenue mix in order to enable the firm to emerge as a leading marketing automation solutions provider. We believe ET shares are attractively valued at current levels."
"We have increased our C2012 revenue and Adj. EBITDA estimates by $12M and $9.5M respectively to $272M (+31% y-o-y) and $7.0M (2.6% margin). We continue to believe that these estimates likely represent a base case scenario and that ET could post 35%+ growth."
For an analyst ratings summary and ratings history on ExactTarget click here. For more ratings news on ExactTarget click here.
Shares of ExactTarget closed at $24.22 yesterday.
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