In a report released today, Mohan Naidu from Oppenheimer maintained a Buy rating on Vocera (VCRA), with a price target of $38. The company’s shares closed yesterday at $39.69, close to its 52-week high of $42.60.
Naidu wrote:
“Vocera’s much lower than expected CY19 guidance is a big surprise and while the growth deceleration brings back memories of prolonged weakness, we believe the cause of the bookings gap appears to be explainable. A very untimely govt. shutdown caused Fed business delays at year-end and the new Smartbadge introduction appears to have disrupted the order flow, which is not uncommon. Additionally, lumpiness caused international business to come in lower. Another govt. shutdown could delay Fed orders, but the standardization of VCRA across VA/DoD gives us confidence in orders resuming eventually. We believe growth will resume into mid- teens but 1H19 will be testing times. We are sticking with the story and retain our Outperform rating, adjusting target to $38 (from $36).”
According to TipRanks.com, Naidu is a 5-star analyst with an average return of 10.9% and a 55.4% success rate. Naidu covers the Services sector, focusing on stocks such as Tivity Health Inc, Evolent Health, and Premier Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Vocera with a $41 average price target, a 3.3% upside from current levels. In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $37 price target.
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Based on Vocera’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $1.1 million. In comparison, last year the company had a net profit of $2.66 million.
Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VCRA in relation to earlier this year. Last month, Sharon O’keefe, a Director at VCRA bought 4,000 shares for a total of $64,000.
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Vocera Communications, Inc. engages in the provision of secure, integrated, intelligent communication and workflow solutions. The firm is focused on empowering mobile workers in healthcare, hospitality, energy, and other mission critical mobile work environments in the United States and internationally. It operates through Product, and Service segments.
