Benchmark Downgrades Saba Software To Hold

According to Benchmark, Saba Software (NASDAQ: SABA) is downgraded to Hold.

Benchmark said that it is downgrading SABA to Hold from Buy in the wake of last night's F4Q11 earnings release where the Company missed our and the Street's estimates for total revenue, bookings and EPS, and management lowered FY12 revenue and EPS expectations meaningfully below the consensus. “We're lowering our FY12 EPS estimate by $0.08 to $(0.19) mainly for accounting reasons (i.e., revenue recognition), and taking up revenue $2 million to $131 million.”

Benchmark closed yesterday at $9.42.