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Fly News Breaks for August 23, 2018
QADA
Aug 23, 2018 | 07:11 EDT
Stifel analyst Brad Reback reiterated a Buy rating for Qad Inc and raised his price target to $61 following the company's "solid" Q2 print that was ahead of guidance and consensus across all key metrics. Notably, Reback says subscription revenue grew 32.6% y/y to $22.4M, with cloud gross margins also seeing an improvement of about 550bps from last year. The analyst believes Qad is positioned to continue driving healthy recurring revenue growth and improving profitability over time.
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