BMO Capital Reiterates Outperform Rating, $24 PT for Bazaarvoice

In a report released earlier today, BMO Capital Markets reiterated its Outperform rating and $24 price target for Bazaarvoice Inc.

, following a Bazaarvoice user conference in Austin. BMO Capital went on to say “Based on our customer checks, we conclude that Bazaarvoice's customers are still at an early stage in terms of monetizing these shifts and that Bazaarvoice is a key partner of these customers as they continue this journey. Most customers were looking to expand their relationships with Bazaarvoice, and industries such as fashion are just now opening up to online reviews. We remain comfortable that Bazaarvoice has the potential to generate 30%-plus revenue growth for the next several years.” Bazaarvoice Inc. closed at $18.96 on Friday.