UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on Bazaarvoice on Revenue and EPS

In a report published Friday, Deutsche Bank reiterated its Hold rating on Bazaarvoice

, and slightly raised its price target from $7.50 to $8.00. Deutsche Bank noted, “Beat on revenue and EPS; guidance tweaked up for 4Q13. BV beat estimates on the core subscription segment but appeared to miss total revenue optically because of a change from gross to net revenue reporting for the new Media segment. BV reported $42.7m/($0.06) vs. our $44m/($0.12) and consensus of $43.4m/($0.12). Subscription revenue beat modestly (up 33% organically vs. 59% a year ago) while Media revenue was about $2m net vs. $4m gross guidance. Earnings benefited from a $0.03 tax adjustment but still beat by $0.03. Guidance for 4Q13 was raised slightly. While the core business continues to perform, we see the stock range-bound ahead of the DOJ trial scheduled for September. Reiterate Hold.” Bazaarvoice closed on Thursday at $6.74.