Needham & Company maintained a Buy rating on Bazaarvoice (NASDAQ: BV), and cut the price target to $7.00 (from $9.00), following the company's 3Q earnings report. Revenues were reported at $50.3mm, ahead of Needham's estimate of $50.0mm. EPS of $0.02 also came in ahead of estimates of ($0.03).

Analyst Scott Berg commented, "Bazaarvoice reported 3Q ahead with expectations while reporting its first ever Non-GAAP EPS profit.The company released mixed metrics including positive subscription bookings, softer Media bookings and soft ARPU while providing a clear path to profitability. However, the visibility into falling dollar churn has improved in 4Q as the company benefits from improved customer satisfaction and longer contract terms. If accurate on churn, we believe the company has the opportunity to nominally accelerate revenue growth in FY17 and potentially attain profitability as sales of new, high margin products begin to have a greater impact on the company's operating model."

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 $3.15 yesterday.