UPDATE: Benchmark Raises PT to $7 on inContact
Benchmark increases its price target from $6 to $7 on Buy-rated inContact (NASDAQ: SAAS) following highlights from a meeting with management.
Benchmark says, " Our meetings reinforced our Buy rating and investment thesis on inContact. We believe the Company is highly leveraged to favorable secular trends in the emerging cloud-based call center market driven by increasing enterprise acceptance of cloud-based delivery models, particularly in mid-sized contact centers with distributed agents. Trading at 3.0x EV/2013E recurring software revenue, we believe valuation remains reasonable for this level of growth vs. risk."
SAAS closed at $5.44 on Wednesday.
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