Canaccord Genuity Maintains a 'Hold' on NetSuite (N); Solid Quarter, But Valuation High

Canaccord Genuity maintains a 'Hold' on NetSuite (NYSE: N) price target of $46.00 (from $42.00).

Analyst, Richard Davis, said, "NetSuite has a big opportunity in displacing legacy, mid-market general ledger and broader ERP systems. We simply have an old fashioned notion that 9x C2013 revenues and 50x free cash flow seems like a high valuation for a mid-20% revenue grower...We now expect NetSuite to report C2012 revenues of $305M and FCF/share of $0.63."

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 $49.42 yesterday.

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