Needham & Company analyst Scott Berg reiterates Buy rating and $11 price target on Amber Road Inc. (NYSE: AMBR), noting the company reported record bookings, strong sales and revenue figures that surpassed consensus estimates for the 2016 fourth quarter.

Berg comments, "Amber Road reported another strong sales quarter with bookings and revenue exceeding expectations. For the sixth consecutive quarter, bookings commentary highlighted a strong demand environment with larger, transformative enterprise level deals and robust pipelines leading into FY17. While the overall demand environment appears healthy, the company's initial FY17 guidance has been impacted by uncertainty around the current geopolitical environment and the unique scenario of a larger customer loss to M&A that cannot renew its contract until post acquisition. Although we believe the company's stock could see initial pressure on the 4Q events, we believe the 4Q noise masks healthy overall business trends that exhibit accelerating growth in 2H, and we remain aggressive buyers at current levels… 4Q revenue/EPS of $19.2mm/ ($0.10) came in above our $18.7mm/ ($0.11) estimate. Total revenues increased 9.7% Y/Y to $19.2mm. 4Q metrics: Strong demand environment keeps pipelines elevated with large enterprise level opportunities."

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Shares of Amber Road closed at $9.31 yesterday.