UPDATE: Barrington Downgrades Vocus to Market Perform on Transition Difficulties
In a report published Wednesday, Barrington Research analyst Jeff Houston downgraded the rating on Vocus (NASDAQ: VOCS) from Outperform to Market Perform.
In the report, Houston noted, “We are lowering our rating to MARKET PERFORM from OUTPERFORM due to difficulties with the company's transition to a SaaS SMB marketing suite from SaaS enterprise PR as well as its inability to provide accurate guidance. Vocus reported Q1/13 results after the market's close. Revenue and EPS were at the low end of guidance and below consensus. While the marketing suite outperformed, its stand‐alone PR, email, and news‐release businesses underperformed. Also, 2013 guidance was lowered.”
Vocus closed on Tuesday at $13.33.
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