Roth Capital Maintains Buy On Shares Of Constant Contact, $47 PT

In a research report issued today, Roth Capital analyst Richard Baldry maintained a Buy rating on Constant Contact (NASDAQ:CTCT) with a price target of $47.

Baldry said, “CTCT’s 3Q14 results were good, with revenues narrowly beating our forecast and continuing to modestly accelerate while pro forma EPS came in well ahead of our estimate. ARPU strength continues to bolster CTCT’s growth, an impact that appears sustainable based upon its new product bundling sales strategy . With our expectation of accelerating growth affirmed by preliminary 2015 guidance, we reiterate our Buy rating and $47.00 target price. Growth acceleration extended. CTCT’s 3Q14 revenues of $83.5M narrowly exceeded our $83.4M forecast and increased 15.9% yr/yr to extend 1H14’s acceleration trend. With ARPU up roughly 8% yr/yr driven by its new “Toolkit” product bundling initiative, we believe the acceleration should prove sustainable and further extensible in 4Q14 and 2015.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Richard Baldry has a total average return of 7.3% and a 55.0% success rate. Baldry is ranked #1061 out of 3343 analysts.

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