Jefferies Lowers Price Target On RightNow Technologies (RNOW), Keeps Hold Rating

Jefferies lowered its price target on Hold-rated RightNow Technologies (NASDAQ: RNOW) from $33 to $32 following Q2 results.

The firm notes, "RNOW reported 2Q11 rev/ NG EPS ahead of expectations though current software bookings growth decelerated slightly. Mgmt guided in-line for 3Q11 and CY11, though mix is expected to shift toward recurring revenue (raised CY11 recurring rev guide to +27% Y/Y from +24% prev). We remain on the sidelines given valuation, the risk of bookings deceleration in 2H11 given tough compares, and increasing competition."

For more ratings news on RightNow Technologies click here and for the rating history of RightNow Technologies click here.

Shares of RightNow Technologies closed at $28.83 yesterday.

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