Market Overview

Novell Reports 4Q Revenue Above Consensus (NOVL)

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Piper Jaffray published its research report today on Novell (NASDAQ: NOVL) following the release of 4Q revenue results.

In a note to clients, Piper Jaffray writes, " NOVL reported PF revenue of $207M, above consensus of $204M, and PF EPS of $0.07, which was inline with consensus. Linux invoicing, excluding the Microsoft certificates, grew 40%+ y/y in Q4 and FY10, which supports our industry thesis that open source technologies are taking share from proprietary software due to a lower total cost of ownership and faster innovation cycles."

Piper Jaffray maintains its Neutral rating and $6.10 price target on NOVL.

NOVL closed yesterday at $5.96.

 

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