Wells Fargo Maintains an 'Outperform' on Velti (VELT); Adjusting Numbers After Solid Qtr
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Price: $0.06 --0%
Rating Summary:
3 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 7
Rating Summary:
3 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 7
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Wells Fargo maintains an 'Outperform' on Velti (NASDAQ: VELT) price target range raised to $17-19 from $11-12.
Wells analyst says, "Our 2012 revenue and EBITDA estimates climb 3% and 1.4%, respectively, where we model to above guidance mid-point. Below the line and non-cash adjustments lead us to reduce 2012E non-GAAP EPS from $0.88 to $0.82. With greater clarity behind drivers, FY2012 guidance and contribution, we see sustained multiple expansion to levels more befitting Velti's strong growth profile and raise our valuation range."
"We believe Velti's global, end-to-end planning, execution, and tracking platform is strategically well positioned to capitalize on what we view as a rapidly growing mobile marketing sector. We model revenue to grow at a 36% CAGR through 2014, with steady margin progress."
For an analyst ratings summary and ratings history on Velti click here. For more ratings news on Velti click here.
Shares of Velti closed at $12.49 yesterday.
Wells analyst says, "Our 2012 revenue and EBITDA estimates climb 3% and 1.4%, respectively, where we model to above guidance mid-point. Below the line and non-cash adjustments lead us to reduce 2012E non-GAAP EPS from $0.88 to $0.82. With greater clarity behind drivers, FY2012 guidance and contribution, we see sustained multiple expansion to levels more befitting Velti's strong growth profile and raise our valuation range."
"We believe Velti's global, end-to-end planning, execution, and tracking platform is strategically well positioned to capitalize on what we view as a rapidly growing mobile marketing sector. We model revenue to grow at a 36% CAGR through 2014, with steady margin progress."
For an analyst ratings summary and ratings history on Velti click here. For more ratings news on Velti click here.
Shares of Velti closed at $12.49 yesterday.
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