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UPDATE: Citigroup Downgrades Jive Software to Neutral on Billings Deceleration

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Citigroup lowered its rating on Jive Software (NASDAQ: JIVE) from Buy to Neutral, both High Risk, and lowered its price target from $30 to $21.

Citigroup said, "We initiated at Buy in January and while we continue to stick with parts of our thesis, we believe at ~8x 2013 EV/Revs, our thesis and near-term numbers aren't strong enough to recommend the stock at this valuation. Our price target goes from $30 to $21 based on lower revenue growth (27% to 23% 10-year CAGR), slower margin expansion, and lower terminal multiple due to recent market discounts on companies with leverage to social networking."

Jive Software closed at $19.42 on Tuesday.

Latest Ratings for JIVE

May 2017B. RileyDowngradesBuyNeutral
Apr 2017B. RileyInitiates Coverage OnBuy
Sep 2015Morgan StanleyDowngradesEqual-WeightUnderweight

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Posted-In: CitigroupAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings


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