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Needham & Company reiterates a 'Buy' on Bottomline Technologies (EPAY); Pieces Are In Place To Drive Sustained EPS Upgrades

February 1, 2012 8:24 AM EST
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Price: $56.99 --0%

Rating Summary:
    1 Buy, 9 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 10 | New: 11
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Needham & Company reiterates a 'Buy' on Bottomline Technologies (NASDAQ: EPAY) price target raised from $29 to $33.

Needham analyst says, "EPAY delivered solid 2Q results with upside on revenue, margins, and earnings. Management raised the low end of its revenue guidance range, but maintained its EPS guidance band. With EPAY's 3 key segments, global banks, legal spend, and Paymode-X, all showing good traction and the strong sequential growth in orders and backlog and a strong pipeline, we believe there could be upside potential to results over 2H FY12 and FY13."

For an analyst ratings summary and ratings history on Bottomline Technologies click here. For more ratings news on Bottomline Technologies click here.

Shares of Bottomline Technologies closed at $27.34 yesterday.


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