UPDATE: Goldman Sachs Initiates Coverage on Envivio

According to a research report published this morning, Goldman Sachs has initiated Envivio

with a Buy rating and $14 PT. Goldman Sachs said in the report, "We see Envivio, a video encoding software and equipment vendor, as positioned at the right time and right place to capture the emerging shift toward “multi-screen video” – the ability to watch any video (live TV, on demand, or over-the-top) on any screen (TV, PC, tablet, smartphone). Early wins such as Time Warner, Verizon, and Cablevision have validated Envivio's technology lead. We estimate its CY11-14 sales growth at 45% and EPS growth much faster given the significant operating leverage in the model." Envivio closed Friday at $7.71.