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Fly News Breaks for April 20, 2018
MDSO
Apr 20, 2018 | 07:48 EDT
Needham analyst Scott Berg raised his price target on Medidata to $80 after "strong" Q1 earnings, saying the top-line outperformance was driven by higher subscriptions. Berg adds that the pick-up in sales and marketing expenditure was the "most important" development in the quarter, driving higher bookings activity in overseas markets. The analyst believes the added capacity supports visibility into the company's high-teen revenue growth rate for the next several years., keeping his Buy rating on Medidata.
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