Goldman Sachs Adds NetSuite (N) to Conviction Buy List

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May 14, 2012 6:54 AM EDT
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Price: $90.34 --0%

Rating Summary:
    7 Buy, 24 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 26
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Goldman Sachs is adding NetSuite (NYSE: N) to its Conviction Buy with a price target of $55, suggesting 29% upside.

The firm said the 16% sell-off following Q1 billings growth that was just in-line with the Street "creates an even better opportunity to buy one of the most differentiated SaaS businesses in perhaps the largest identifiable market."

Goldman expects next week's user conference to highlight building momentum for NetSuite and see shares reacting well to accelerating billings growth.

For an analyst ratings summary and ratings history on NetSuite click here. For more ratings news on NetSuite click here.

Shares of NetSuite closed at $42.62 yesterday.

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Goldman Sachs Conviction Buy List, Goldman Sachs