Canaccord Genuity Reiterates a Hold Rating on NetSuite

By George MacDonald

In a report released today, Richard Davis from Canaccord Genuity reiterated a Hold rating on NetSuite (NYSE: N), with a price target of $105. The company’s shares opened today at $98.43.

NetSuite has an analyst consensus of Moderate Buy, with a price target consensus of $125.40.

Based on NetSuite`s latest earnings report from September 30, the company posted quarterly revenue of $143.7M and quarterly net profit of -$29,295,000. In comparison, last year the company earned revenue of $115M and had a net profit of -$20,210,000.

According to TipRanks, Davis is a 4-star analyst with an average return of 4.7% and a 54.2% success rate. Davis covers the Technology sector, focusing on stocks such as Bottomline Technologies, Nuance Communications, and Ultimate Software.

NetSuite, Inc., provides software application suite. It offers software suites such as accounting/enterprise resource planning, customer relationship management, professional services automation & ecommerce functionality to businesses & others.