UPDATE: Stifel Nicolaus Downgrades RightNow Technologies to Hold

Stifel Nicolaus is out with its report today on RightNow Technologies

, downgrading RNOW from Buy to Hold. In its report, Stifel Nicolaus writes, "In recent weeks and months, RightNow has been one of the most resilient names in our universe. In fact, with a 65% YTD gain in share price and a 20% move since June, the company is easily the top performing stock in our entire universe. As the name has gone from once being discounted sharply compared to the SaaS comp group, to now holding a sizable premium on an EV/Sales and P/FCF basis, we have found ourselves evaluating a less favorable risk-reward scenario over the next 12 months. As such, we are moving our rating to a Hold on shares of RNOW, despite a strong view toward near-term fundamentals." At the time of posting, shares of RNOW were trading at $37.87, down 2.55% from Tuesday's close.