UPDATE: Loewen Ondaatje McCutcheon Initiates Datawatch Corporation at Buy
Loewen Ondaatje McCutcheon initiated coverage on Datawatch Corporation (NASDAQ: DWCH) with a Buy rating and a $25 price target.
Loewen Ondaatje McCutcheon commented, "Gartner recently estimated unstructured data makes up 80% of the data inside of an enterprise and is growing at a rate of 80% per year. The ability to harness and use this data can help enterprises achieve a competitive advantage and succeed. … Greater than 90% of the Company's revenues are generated from existing customers who have long‐term relationships with the Company and who have made investments into utilizing Monarch software, thus providing solid near‐term revenue visibility. Further penetration into these accounts plus new customers could lead to significant revenue growth."
Datawatch Corporation closed at $16.01 on Tuesday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.