Canaccord Genuity Maintains a 'Hold' on KIT Digital (KITD); Disappointing Qtr and Guidance Not Reiterated
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Price: $0.30 --0%
Rating Summary:
0 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 8
Rating Summary:
0 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 8
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Canaccord Genuity maintains a 'Hold' on KIT Digital (NASDAQ: KITD) price target of $5.00.
Analyst, Thomas Eagan, said, "As expected, the KITD results were somewhat disappointing and 2012 guidance was reduced. This could put pressure on the stock. That said, there were some positives: 1) a higher percent of revenue (sequentially) was from large-scale operators; 2) 61% gross margin was in line with our estimate; 3) OH is expected to rationalize going forward. On the company’s earnings call, management was upbeat about its prospects and seemed reinvigorated by the recent strategic review. We remain HOLD rated as we expect financials could continue to be impacted by efforts to right-size the company, which had expanded with M&A activity. Longer term, we still expect KITD will exploit the increasing global demand and supply for non-linear video."
For an analyst ratings summary and ratings history on KIT Digital click here. For more ratings news on KIT Digital click here.
Shares of KIT Digital closed at $3.00 yesterday.
Analyst, Thomas Eagan, said, "As expected, the KITD results were somewhat disappointing and 2012 guidance was reduced. This could put pressure on the stock. That said, there were some positives: 1) a higher percent of revenue (sequentially) was from large-scale operators; 2) 61% gross margin was in line with our estimate; 3) OH is expected to rationalize going forward. On the company’s earnings call, management was upbeat about its prospects and seemed reinvigorated by the recent strategic review. We remain HOLD rated as we expect financials could continue to be impacted by efforts to right-size the company, which had expanded with M&A activity. Longer term, we still expect KITD will exploit the increasing global demand and supply for non-linear video."
For an analyst ratings summary and ratings history on KIT Digital click here. For more ratings news on KIT Digital click here.
Shares of KIT Digital closed at $3.00 yesterday.
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