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UPDATE: Goldman Sachs Reiterates on Jive Software Following 4Q13 Results

In a report published Wednesday, Goldman Sachs analyst Heather Bellini reiterated a Neutral rating on Jive Software (NASDAQ: JIVE), but lowered the price target from $11.50 to $9.50.

In the report, Goldman Sachs noted, “Jive reported 4Q13 results after the close, with revenue and non-GAAP EPS in line with the Street while CFO and billings were above. Total revenue of $39.3mn (+21% yoy) compared to guidance of $38.5-39.5mn while non-GAAP EPS of ($0.16) compared to guidance of ($0.15)-($0.18). Total billings of $58.9mn (+13% yoy) was ahead of the Street's $56.6mn (+9% yoy) and helped operating cash flow beat the consensus estimate of ($6.8mn) at ($4.3mn). Non-GAAP EPS of ($0.16) was in line with the Street, with below the line items being neutral versus our forecast.”

Jive Software closed on Tuesday at $8.87.

Posted-In: Goldman Sachs Heather BelliniAnalyst Color Price Target Analyst Ratings

 

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