In a report released today, Mohan Naidu from Oppenheimer reiterated a Buy rating on Vocera (NYSE: VCRA), with a price target of $36. The company’s shares closed yesterday at $31.41, close to its 52-week high of $33.17.
Naidu noted:
“Our meetings with mgmt. this week increased our confidence in the company’s competitive position and growth into CY19. We believe the focus around enterprise selling is paying off with consistent larger deals, and mgmt. highlighted the healthy pipeline. Specifically, mgmt. noted planning for 2.5-4x bookings expectations in convertible pipeline in any given quarter, which gives very high visibility and confidence in the numbers. We believe mgmt. will continue to look for M&A opportunities that can add new products to the portfolio that will support smart health systems as they evolve. The upbeat commentary on pipeline health and mgmt.’s comments give us confidence in our CY19 numbers and possible upside to teens growth. Reiterate Outperform rating, $36 target.”
According to TipRanks.com, Naidu is a 5-star analyst with an average return of 15.5% and a 63.3% success rate. Naidu covers the Services sector, focusing on stocks such as Tivity Health Inc, Hms Holdings Corp, and Express Scripts.
Currently, the analyst consensus on Vocera is a Strong Buy with an average price target of $36.
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Based on Vocera’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $3.55 million. In comparison, last year the company had a GAAP net loss of $7.35 million.
Based on the recent corporate insider activity of 59 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
