Nuance Communications (NUAN) PT Raised to $60 at Oppenheimer Following EPS, Saykara Deal
- Wall Street ends week positively; S&P 500, Dow hit record highs
- Bitcoin (BTC) Drops 3% as Turkey Bans Cryptocurrency Payments Citing Lack of Regulatory Supervision
- Morgan Stanley (MS) Archegos-Related Loss Appears to be $911M
- Dollar at 4-week low on retreating Treasury yields
- J&J (JNJ) Privately Asked Rival Covid-19 Vaccine Makers to Inspect Clotting Risks, AstraZeneca (AZN) Said Yes but Pfizer (PFE) and Moderna (MRNA) Declined - Report
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Oppenheimer analyst Shaul Eyal raised the price target on Nuance Communications (NASDAQ: NUAN) to $60.00 (from $40.00) while maintaining an Outperform rating following results and the Saykara tuck-in deal.
The analyst commented, "NUAN kicked off FY21 on a high note exceeding consensus' revenue, operating margins, and EPS estimates. Key highlights include: 1) NUAN acquired Saykara, a small tech tuck-in aimed at boosting the AI/ML capabilities of DAX and across NUAN's entire platform. 2) Healthcare Cloud portfolio is garnering a healthy +28% y/y growth. 3) Existing DAX customers are adopting additional capabilities (40% of deals closed saw modules additions) validating the land & expand proposition. 4) The Enterprise segment generated record revenue supported by the elevated volume of fraud attacks in the cyber landscape. 5) International expansion strength continues (mainly in European markets). We are raising our PT from $40 to $60. Outperform."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Localiza Rent a Car S.A. (RENT3:BZ) (LZRFY) PT Lowered to R$67 at Morgan Stanley
- Seven Group Holdings Limited (SVW:AU) (SVNWF) PT Raised to AUD23.80 at Goldman Sachs
- Industrial Bank of Korea (024110:KS) PT Raised to KRW10,000 at Morgan Stanley
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!