Deutsche Bank Downgrades Envivio, Inc. (ENVI) to Hold; Negative Pre-Announcement Right Out The Gate

Deutsche Bank downgraded Envivio, Inc. (NASDAQ: ENVI) from Buy to Hold with a price target of $4.00 (from $12.00).

Deutsche analyst said, "Envivio announced that it would miss its earnings guidance for its second quarter as a public company...In our experience, companies that miss one of their first two quarters out of the blocks have a hard time gaining investor confidence for years to come. Given the performance of Envivio’s stock since the IPO we think Envivio’s struggles will limit trading volume and investor interest for some time."

For an analyst ratings summary and ratings history on Envivio, Inc. click here. For more ratings news on Envivio, Inc. click here.

Shares of Envivio, Inc. closed at $5.70 yesterday.

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