Oppenheimer Cuts Price Target on BMC (BMC) But Keeps Buy Rating
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Price: $46.30 --0%
Rating Summary:
6 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Oppenheimer lowered its price target on Outperform-rated BMC Software (NASDAQ: BMC) from $57 to $46 following mixed Q2 results.
The firm notes BMC beat consensus revenue and EPS, but lowered full-year guidance. They said ESM suffered from sales capacity constraints (attrition), and from macro economy-rooted pressures. On the bright side, BMC sees continued momentum in cloud computing and SaaS, and MSM turned in another solid performance.
For more ratings news on BMC Software click here and for the rating history of BMC Software click here.
Shares of BMC Software closed at $38.62 yesterday.
The firm notes BMC beat consensus revenue and EPS, but lowered full-year guidance. They said ESM suffered from sales capacity constraints (attrition), and from macro economy-rooted pressures. On the bright side, BMC sees continued momentum in cloud computing and SaaS, and MSM turned in another solid performance.
For more ratings news on BMC Software click here and for the rating history of BMC Software click here.
Shares of BMC Software closed at $38.62 yesterday.
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