Canaccord Genuity Keeps Their Hold Rating on Optiva Inc (OPT)


Wall Street analyst has provided a review for the Technology company today, but retained the same rating on the stock. Canaccord Genuity’s analyst Robert Young reiterates their Hold rating on the shares of Optiva Inc (TSX: OPT), with a C$50 price target.

Young commented:

“Optiva reported strong FQ3 results, ahead of CG and Street expectations on all metrics. Revenue of C$32.0M (71% of which was recurring) beat our estimate of C$27.0M as we had expected sequential declines heading into a period of increased customer churn. Gross margins of 70% suggest margins are benefiting from restructuring – we will look for further detail on the company’s conference call to better understand the drivers of this GM strength.”

According to TipRanks.com, Young is ranked #420 out of 4850 analysts.

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Optiva Inc has an analyst consensus of Hold, with a price target consensus of C$50.

Optiva Inc’s market cap is currently C$249.8M and has a P/E ratio of 0. The company has a Price to Book ratio of -15.21.

Optiva, Inc. provides software products, solutions and services to network operators throughout the world, including wireless, wireline, broadband and satellite. It offers Real-time Converged Billing, a cloud-enabled converged billing and customer care platform, which provides real-time unified billing, rating, and charging for the operator’s data, voice, and messaging services; customer care capabilities; subscriber promotions and loyalty programs; and self-care options for prepaid, postpaid, and hybrid subscribers. The company also provides Brand Challenger, a cloud-based end-to-end converged billing solution for mobile network operators, mobile virtual network enablers, and mobile virtual network operators. The company was founded on November 1, 2006 and is headquartered in Mississauga, Canada.

The company’s shares closed on Wednesday at C$47.74.

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