According to Oppenheimer, SuccessFactors SFSF held its annual analyst day.
Oppenheimer said that it attended SFSF's analyst day at its annual SuccessConnect user conference. “Customer participation was up meaningfully and our interactions at the event solidified our view that SFSF has a tremendous opportunity ahead. Management highlighted efforts to improve its already strong salesforce, its focus on enhancing its SIs relationships and full product set. We believe the deceleration (Q/Q and Y/Y) in 1Q billings growth was more a function of difficult comps than a structural change in demand and expect SFSF to meet its 2Q billings guidance of >31% and believe its >25% billings growth target for CY11 should prove conservative. We would use the pullback in the stock to build/initiate positions.”
SuccessFactors closed yesterday at $32.94.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: Analyst ColorAnalyst RatingsApplication SoftwareInformation TechnologyOppenheimersuccessfactors
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