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UPDATE: Credit Suisse Initiates Coverage on Callidus Software

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In a report published Wednesday, Credit Suisse analyst Michael Nemeroff initiated coverage on Callidus Software (NASDAQ: CALD) at Outperform, establishing a $20.00 price target.

According to the report, CALD provides sales performance management software that enables sales and marketing organizations to hire, train, enable and incentivize its revenue-generating employees to become more effective.

“We believe investors should consider Callidus owing to its (1) market share leadership in a fast-growing sales performance management market; (2) best-of-breed sales and marketing effectiveness software solutions; (3) compelling go-to-market strategy; and (4) highly visible, recurring, and predictable business model that has significant operating leverage potential,” the report noted.

The report further asserted that under the leadership of CEO Leslie Stretch, CALD has successfully transitioned its business model to primarily selling subscriptions from selling perpetual licenses.

CALD closed Tuesday at $14.56 with shares trading up at 2.68 percent.

Latest Ratings for CALD

DateFirmActionFromTo
Feb 2018DowngradesBuyHold
Jan 2018DowngradesBuyNeutral
Jan 2018DowngradesBuyHold

View More Analyst Ratings for CALD
View the Latest Analyst Ratings

Posted-In: Credit Suisse Michael NemeroffAnalyst Color Initiation Analyst Ratings

 

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Latest Ratings

StockFirmActionPT
KHCUBSMaintains31.0
RPAYCantor FitzgeraldMaintains18.0
CMSCredit SuisseDowngrades
PBCTStephens & Co.Maintains15.5
TTECCowen & Co.Initiates Coverage On50.0
View the Latest Analytics Ratings
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