UPDATE: Stifel Reiterates On Amber Road Following 3Q14 Results

In a report published Friday, Stifel analyst Tom Roderick reiterated a Buy rating on

, but lowered the price target from $19.00 to $18.00. In the report, Stifel noted, “On Thursday, November 6th after the market close, Amber Road reported 3Q14 results. While the quarter and Q4 outlook themselves were both solid and nicely ahead of Stifel/Street estimates, the results were overshadowed by the anticipated non-renewal of a top 5 customer that would otherwise have contributed roughly $5mn in FY15. Despite the loss, we remain believers in the fundamental outlook and the secular growth story for Amber Road and maintain our Buy rating on the stock. With the customer loss, we are lowering our price target to $18.” Amber Road closed on Thursday at $13.61.