UPDATE: Oppenheimer Raises PT on Demandware on Strengthening Trends

In a report published on Thursday, Oppenheimer analyst Brian Schwartz raised the price target on

from $35 to $40 and reiterated a rating of Outperform on the company. In the report, Oppenheimer stated, "We reiterate our Outperform rating and raise our PT to $40 (was $35) on DWRE shares following two events that bolster our confidence in steady, upward growth revisions driven by faster share gains. Specifically, recent industry consolidation trends should positively impact Demandware's market positioning, and the move organically into the Internet Retailer segment expands DWRE's TAM by at least $2B in 2018, based on our estimates. These two positive events come on the heels of our intra-quarter customer survey work that suggested Demandware's momentum and technology vision were accelerating." Demandware closed on Thursday at $36.36.