Bottomline Technologies (NASDAQ:EPAY) has been quietly moving up under the radar of many investors, as they've been doing it quietly over a period of time, and not in major jumps.
Canaccord says, "Bottomline posted another solid quarter in which the firm reported record orders, 26% operating income growth, and a $0.06 upside. This stock has made a “sneaky” rally inasmuch as the shares have rarely moved much in any given day, but after a few months, the stock is up 30%+. We expect this dynamic to continue. As such we have no hesitation recommending purchase of EPAY at current levels...Our F2011 estimates increase by $1.2 million and $0.06 (inclusive of the Q2 beat). Our estimates imply roughly 13% growth and 180 bps margin improvement."
Canaccord Genuity reiterates a 'Buy' rating on Bottomline Technologies (EPAY), which closed Friday at $22.90, up $2.53, or 12.42 percent. Canaccord raised their price target on Bottomline from $20 to $25.
No comments:
Post a Comment