William Blair Defends Textura Shares Amid ~20% Decline Over Last Two Sessions
William Blair's Bhavan Suri issued a research note earlier Friday suggesting a recent unwarranted move lower in Textura (NASDAQ: TXTR) shares has created a "very attractive" entry point in the name.
The stock is down nearly 20 percent over Thursday and Friday's sessions following a scathing report from Citron Research Thursday morning. Shares fell more than 17 percent on on that day and, despite a response from Textura, the company's stock is down another 5 percent Friday afternoon.
Suri reassures Textura bulls there is no proof the company lied to the SEC related to sales growth and the churn rate of subs. The William Blair analyst noted Textura rarely loses clients in the CPM segment.
William Blair maintains a Buy rating on shares of Textura.
With less than 15 minutes left in this week's trading session, Textura shares last traded at $29.66.
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