Needham & Company maintains a 'Buy' on WageWorks (WAGE); Valuation Still Appears to Discount Magnitude of Opportunity
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Price: $51.34 --0%
Rating Summary:
2 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on WageWorks (NYSE: WAGE) price target of $20.00 (from $15.00).
Analyst, Michael Huang, said, "We had the opportunity to catch up with some WageWorks channel partners, close competitors, and others. Checks were overall positive suggesting WageWorks’ clear leadership in pretax healthcare and commuter programs, and we’re encouraged by the potential for upside scenarios through 2013."
"We’re nudging up our 2013 revenue estimates to $183.7 million (from $182.9 million) and we’re revising up our 2013 EBITDA targets to $44.3 million from $44.1 million and maintaining our EPS estimate at $0.59."
For an analyst ratings summary and ratings history on WageWorks click here. For more ratings news on WageWorks click here.
Shares of WageWorks closed at $15.20 yesterday.
Analyst, Michael Huang, said, "We had the opportunity to catch up with some WageWorks channel partners, close competitors, and others. Checks were overall positive suggesting WageWorks’ clear leadership in pretax healthcare and commuter programs, and we’re encouraged by the potential for upside scenarios through 2013."
"We’re nudging up our 2013 revenue estimates to $183.7 million (from $182.9 million) and we’re revising up our 2013 EBITDA targets to $44.3 million from $44.1 million and maintaining our EPS estimate at $0.59."
For an analyst ratings summary and ratings history on WageWorks click here. For more ratings news on WageWorks click here.
Shares of WageWorks closed at $15.20 yesterday.
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