Loading...
Loading...
In a report published Friday, BMO Capital Markets downgraded its rating on Bazaarvoice
BV from Outperform to Market Perform, and lowered its price target from $14.00 to $9.00.
BMO Capital Markets noted, “After the departure of the CEO, a billings growth deceleration, the admission of sales execution issues, and now the announcement of a Department of Justice (DOJ) antitrust suit against BV yesterday, our confidence in a recovery over the next 12 months is now too low to support a bullish call on the stock. Moreover, we worry that BV's issues are not all internal and that the retail side of the business (~50% of the mix) may be too highly penetrated to support a 25%-30%-plus growth profile in fiscal 2014. In terms of the DOJ suit, we believe that it is too challenging to untangle the PowerReviews deal and that a more likely outcome is that BV agrees to restrict itself to a more narrow market and/or sell or spin out some assets.”
Bazaarvoice closed on Thursday at $7.49.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in