UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on Demandware on 4Q12 Revenue Report
In a report published Friday, Deutsche Bank reiterated its Buy rating on Demandware (NYSE: DWRE), and raised its price target from $40.00 to $42.00.
Deutsche Bank noted, “Demandware reported 4Q12 revenue of $26.3m that was ahead of us/Street @ $24.1m/$23.5m due to a better than feared shopping season that drove GMV overages of $10.1m vs us @ $8.4m. Growth in the core subscription was 56% in 4Q12 and finished the year +58%. GMV outperformance dropped to the bottom line with EPS of $0.17 well ahead of us/Street @ $0.03. The year ended with DWRE's existing customers growing their GMV by an average 34%, well ahead of eComm industry trends.”
Demandware closed on Thursday at $30.00.
Latest Ratings for DWRE
|Nov 2015||Canaccord Genuity||Maintains||Buy|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.