UPDATE: Credit Suisse Upgrades Bazaarvoice to Outperform, Reiterates $18 PT
In a report published Friday, Credit Suisse Group upgraded its rating on Bazaarvoice (NASDAQ: BV) from Neutral to Outperform, and reiterated its $18.00 price target.
Credit Suisse noted, “PowerReviews and Longboard Media acquisitions grew Bazaarvoice's retailer footprint and its addressable market to include some parts of the display as well as the co-op advertising markets to expand from about $41b previously to $73b over the next five years. And this marks the beginning of the longer term business and revenue model pivot that we have been highlighting for some time as the company looks to generate revenue on a hybrid subscription and transactions-driven basis.”
Bazaarvoice closed on Thursday at $9.08.
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