UPDATE: Jefferies Lowers PT on RightNow Technologies

Jefferies has published a report on Rightnow Tech

lowering the price target one dollar and estimating other factors in the company. In the report, Jefferies wrote, "RNOW reported 2Q11 rev/ NG EPS ahead of expectations though current software bookings growth decelerated slightly. Mgmt guided in-line for 3Q11 and CY11, though mix is expected to shift toward recurring revenue (raised CY11 recurring rev guide to +27% Y/Y from +24% prev)." Jefferies rated RightNow Tech a Hold with a price target of $32.00. RightNow closed Wednesday at $28.83.