Market Overview

UPDATE: BMO Capital Markets Reiterates Market Perform Rating, Raises PT on NetSuite

Related N
SunTrust Sees Software Earnings Season 'Off To A Promising Start'
NetSuite Extends Footprint To The Netherlands, Luxembourg And Belgium

In a report published Friday, BMO Capital Markets reiterated its Market Perform rating on NetSuite (NYSE: N), and raised its price target from $60.00 to $80.00.

BMO Capital Markets noted, “We conclude that the growth profile is strong enough to offset the disappointing margin guidance. NetSuite is taking advantage of the absence of serious competition in the mid-market cloud ERP market, in contrast with the large enterprise market that is getting much more competitive now that Oracle and SAP have now stepped-up their game. Given this set-up, and in particular the likelihood that Microsoft finally launches Azure-hosted versions of its Dynamics ERP products in 2013, we support NetSuite's aggressive sales and marketing spending plan. We're modestly concerned that NetSuite's growth profile is being boosted by a mix shift to professional services and an invoicing duration change, but we're confident that core subscription billings remain solid.”

NetSuite closed on Thursday at $70.23.

Latest Ratings for N

Apr 2016MacquarieInitiates Coverage onNeutral
Apr 2016MitsubishiInitiates Coverage onBuy
Apr 2016Piper JaffrayAssumesNeutral

View More Analyst Ratings for N
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings


Related Articles (N)

View Comments and Join the Discussion!