June Quarter Performance Of DRIV’s Core Business To Be In-Line; FX Headwinds To Affect Revenue - Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV)

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Analysts at Piper Jaffray reiterate their "overweight" rating on Digital River Inc (NASDAQ: DRIV). The target price for DRIV is set to $34.Piper Jaffray expects the June quarter performance of Digital River’s core (non-Symantec) business to meet the Street view. “However, we expect FX rates to have a negative 1-2% revenue impact. Separately, we believe the company will continue to guide for 15% y/y core revenue growth in the back half of 2010, consistent with comments at the March conference call. Our confidence is based on our analysis of the Microsoft Office 2010 launch and new announced customers' business ramping in the fall. Beyond 2010, we believe Digital River has the opportunity to build a broader eCommerce platform given the company's balance sheet,” the analysts mention.

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