Needham & Company Starts Bazaarvoice (BV) at Buy

Needham & Company initiates coverage on Bazaarvoice (NASDAQ: BV) with a Buy rating and a price target of $9.00.

Analyst Scott Berg commented, "We initiate coverage on BV with a Buy rating and a $9 price target. We believe BV is uniquely positioned as the dominant vendor in a high-profile segment leveraged by brands and retailers to manage user-generated content that is critical to the consumer purchasing experience. However, FY15 and FY16 remain transitional years for BV as it 1) moves past the effects from resolving a lingering DOJ antitrust suit from a prior management acquisition decision, and 2) accelerates product innovation to further separate itself from lagging competitors. Armed with relatively new management that brings a track record of operational success, we believe BV can accelerate bookings in 2H16 with an expanded product set and through improved sales execution that could drive a more consistent mid-teens to 20% annual revenue growth opportunity."

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

Shares of Bazaarvoice closed at $5.64 yesterday.

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