Piper Jaffray: RightNow Technologies Investor Meetings Yields Good Momentum And Solid Pipelines

Piper Jaffray released a research report on RightNow Technologies RNOW announcing the outcome of recent investor meetings: good momentum and a solid pipeline. In its report, Piper Jaffray writes, “We recently hosted RNOW CEO Greg Gianforte in investor meetings. Three key takeaways: 1) We believe good momentum is present in the business, and RNOW does not view Q2, which was a strong quarter, as an anomaly; 2) RNOW's volume of referrals from IT advisory firms such as Gartner Group and Forrester have doubled in the past year; and 3) strength of the contact center replacement cycle and favorable positioning for federal government Cloud First spending result in a strong pipeline of business.” Piper Jaffray has an Overweight rating and a $40.00 price target. RightNow Technologies closed yesterday at $31.39.