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

Related TIBX
Earnings Scheduled For September 18, 2014
Mizuho Securities USA Believes Acquisition Potential Is Likely Overstated For TIBCO Software Inc.

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
Jun 2014SusquehannaDowngradesPositiveNeutral
Jun 2014BarclaysMaintainsUnderweight
Jun 2014Deutsche BankMaintainsHold

View More Analyst Ratings for TIBX
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Price Target Analyst Ratings

 

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