UPDATE: Wells Fargo Upgrades Jive Software to Outperform on Share Pullback
Wells Fargo raised its rating on Jive Software (NASDAQ: JIVE) from Market Perform to Outperform as it believes shares are currently undervalued.
Wells Fargo noted, "We upgrade Jive Software to Outperform from Market Perform as we believe the 50% share price retracement from its 2012 high in April, back to the mid-teens (vs. S&P 500's 3% gain) has created an attractive entry point. We think Jive is leveraged to a number of positive secular trends around engagement apps, Big Customer, and the consumerization of IT by bizumers. In our view, Jive should be able to grow at least 25-30% over the next few years as customers adopt their technology for both customer facing social CRM as well as internal productivity scenarios."
Jive Software closed at $14.89 on Monday.
Latest Ratings for jive
|Apr 2017||B. Riley||Initiates Coverage On||Buy|
|Sep 2015||Morgan Stanley||Downgrades||Equal-Weight||Underweight|
|Aug 2015||Northland Securities||Downgrades||Outperform||Market Perform|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.