UPDATE: Morgan Stanley Downgrades Jive Software as Growth Continues to Slow
In a report published Wednesday, Morgan Stanley analyst Jennifer Swanson Lowe downgraded the rating on Jive Software (NASDAQ: JIVE) from Overweight to Equal-Weight, and removed the $18.00 price target.
In the report, Morgan Stanley noted, “Billings growth continued to slow in Q4, while the departure of a key leader adds a new risk and guidance calling for billings to accelerate in CY14 could prove ambitious. Expectations look low, but with the risk profile increasing, we think the stock will remain range-bound and downgrade the shares to Equal-weight.”
Jive Software closed on Tuesday at $8.87.
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