Market Overview

UPDATE: JP Morgan Lowers PT on TIBCO Software, Management Blames Sales Execution for Poor Results

Related TIBX
TIBCO Announces Open Source Version of TIBCO Jaspersoft 5.6
UPDATE: Barclays Upgrades Tibco Software Inc. On Acquisition News
Tech Rewind: Ebay Breaks Up With PayPal (Fox Business)

JP Morgan analyst published a report on TIBCO Software (NASDAQ: TIBX) that reiterated its Overweight rating and lowered the price target from $32 to $27.

JP Morgan reported that, “TIBCO reported disappointing results for the second consecutive quarter, missing just about every metric, though cash flow was very strong. Management blamed sales execution, and though this likely had an effect, we can't help but wonder about macro forces and sales strategy given the broad based miss. The only bright spot was the Business Optimization business. Guidance for the MayQ was well below expectations. At about 6.8x EV/Maintenance-like revenue, we view this as an attractive entry point.”

Shares of TIBCO Software closed at $23.17 on Thursday.

Latest Ratings for TIBX

DateFirmActionFromTo
Sep 2014RBC CapitalUpgradesUnderweightEqual-weight
Sep 2014BarclaysUpgradesUnderperformEqual-weight
Sep 2014Wells FargoDowngradesOutperformMarket Perform

View More Analyst Ratings for TIBX
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Price Target Analyst Ratings

 

Related Articles (TIBX)

Around the Web, We're Loving...

Get Benzinga's Newsletters