This analyst is close to the company and actually understands the technology as well as the business plan.
Get yourself a full copy of the report and read it before selling your stock to the unhedged shorts who are desperate as shown by the ridiculously uninformed and incredibly stupid bashing here.
1. Increased f12m target price to $50 and reaffirms outperform rating.
2. Reflecting the revenue beat for the quarter and increasing optimism about sales momentum going forward (example: scaling from AAPL and Facebook) and new customers (Salesforce and Pandora base case estimated at $42m for CY13), this analyst raised his revenue estimates for CY12 by 12% to $450m and CY13 to $620m (38% growth on the increased base!).
3, FAVORITE QUOTE: "SALES MOMENTUM IS BUILDING AT A RAPID RATE AND WILL BECOME INCREASINGLY APPARENT OVER THE NEXT TWELVE MONTHS.
Sounds like what I and a few others have been suggesting here. Close above $30 today and new 52 week highs coming right up.
Front page news -- see the "what they delivered" thread, too.
Revenue upside to become very visible soon...
(Did you see the apanroa news issued by FIO and Pandora just one day after the Credit Suisse analyst noted they would be an incremental revenue driver for FIO? LOL
What do FIO, pcln, aapl, ibm, expe, lvs, gs, the banks, and so forth have in common?
Their stocks were all temporarily soft after solid Q1 reports... and all began lifting as the pro pm lifted their downside hedges.
FIO's turn in the hopper is about done. Unhedged shorts are in for some smooching. LOL
If you missed it, see the Pandora press release issued by FIO this morning... and note that the CSuisse report specifically noting Pandora was going to soon begin representing revenues was "timely."
As I suggested, the CSuisse guy is very close to management and the story. See his CY13 revenue estimate of $620m (another ~40% growth as his floor case) and quote above:
"SALES MOMENTUM IS BUILDING AT A RAPID RATE AND WILL BECOME INCREASINGLY APPARENT OVER THE NEXT TWELVE MONTHS. "
He also extensively discussed qualification, durability of and drivers for expanding margins, durability of outstanding margins and progress "on all facets" of the business plan. Longs should read this 5 pages of text/tables... unhedged shorts should short more.
We'll be done pulling the hedge this morning as I'm confident other pm will. Close above $30 today.