Novell Reports 4Q Revenue Above Consensus (NOVL)

Piper Jaffray published its research report today on Novell

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.