Dice Holdings Holds Upbeat Investor Day
October 01, 2010 10:11 AM
Dice Holdings' (NYSE: DHX) upbeat AD yesterday and positive preannouncement reflect a favorable momentum in the core business despite a sluggish outlook for overall recruitment short-term, and growing competition from LinkedIn.
Jefferies maintains a Buy rating with a $12 price target, given improving growth/margin profile, better visibility and growing diversification. Mgt preannounced 3Q10 results, with revenue coming in at $34M, ahead of Jefferies
$31.4M estimate.
Metrics pointed to increased momentum and based on the ongoing strength in demand for DHX's services in the tech and finance verticals, 40% growth in billings, improving fundamentals, better 2011 visibility and an ongoing strategy to expand into additional attractive verticals.
DHX is trading higher at $8.55
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