Novell Reports 4Q Revenue Above Consensus (NOVL)

Piper Jaffray published its research report today on Novell NOVL following the release of 4Q revenue results. In a note to clients, Piper Jaffray writes, " NOVL reported PF revenue of $207M, above consensus of $204M, and PF EPS of $0.07, which was inline with consensus. Linux invoicing, excluding the Microsoft certificates, grew 40%+ y/y in Q4 and FY10, which supports our industry thesis that open source technologies are taking share from proprietary software due to a lower total cost of ownership and faster innovation cycles." Piper Jaffray maintains its Neutral rating and $6.10 price target on NOVL. NOVL closed yesterday at $5.96.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorAnalyst RatingsInformation TechnologynovellPiper JaffraySystems Software
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!