Goldman Sachs Comments on Concur Technologies (CNQR) After ETS2 Award

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June 5, 2012 8:45 AM EDT
Get Alerts CNQR Hot Sheet
Price: $128.78 --0%

Rating Summary:
    2 Buy, 18 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 26
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Goldman Sachs commented Concur Technologies (NASDAQ: CNQR) after the company was awarded as the sole provider for the U.S. General Services Administration (GSA) ETS2 program.

"While the size and scope of the overall award (up-to $1.4bn over a 15-year window) came in as expected, the news that Concur is the sole provider is a positive surprise, underpinning higher growth longer-term," the firm comments.

The firim raised revenues estimates by $5m in FY13, $19m in FY14, and $36m in FY15

The firm maintained their Neutral rating with a new price target of $58.00 (from $54.00).

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 $62.44 yesterday.

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