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UPDATE: BMO Capital Markets Downgrades Jive Software to Market Perform

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BMO Capital Markets reduced its rating on Jive Software (NASDAQ: JIVE) from Outperform to Market Perform and lowered its price target from $24 to $16.

BMO Capital Markets commented, "Our positive view of Jive shares has been rooted in a view that the market potential for social business software is large, that Jive has the best product, and that investor sentiment was sufficiently reset following the 2Q12 call. However, our checks this week suggest that the market has moved past the initial hype and early adopter phase, that the next round of corporate buyers are taking a more sober look at the ROI from social platforms, and that the likelihood of upside to the Street's billings growth estimates for Jive in 2H12 is lower. If we're right that the tipping point is at least a few more quarters out, we conclude that Jive shares are more likely to tread water at the mid- teens level than to rally sharply back into the $20-$25 range."

Jive Software closed at $14.08 on Thursday.

Latest Ratings for jive

DateFirmActionFromTo
Aug 2014Credit SuisseDowngradesOutperformNeutral
May 2014Deutsche BankMaintainsBuy
Mar 2014B. Riley & Co.Initiates Coverage onBuy

View More Analyst Ratings for jive
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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