William Blair & Company is out with a research report this morning, where it reiterates its Market Perform rating on LECG Corporation XPRT; it did not provide a price target for the stock.
The WB analysts cited that company’s recent earnings report, which was worse than expected due to lower revenues and profits in the FAS segment. Revenues in the company’s SMART business were also light.
They noted that XPRT continues to be hurt by heightened turnover and that the company has seen 33 managing directors leave the company, which is 15% of the total.
Cash flows were also weak due to the “choppy demand environment,” as well as higher than average cap-ex costs associated with the recent merger.
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 ColorPrice TargetAnalyst RatingsDiversified Commercial & Professional ServicesIndustrialsWilliam Blair & Company
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