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Fly News Breaks for July 26, 2019
VCRA
Jul 26, 2019 | 05:17 EDT
Piper Jaffray analyst Sean Wieland lowered his price target for Vocera Communications to $34 from $40 and reiterates an Overweight rating on the shares. The company's Q2 results ahead of consensus estimates and at the high end of the range, but bookings fell short of plan because some large deal signings slipped out of the quarter, Wieland tells investors in a research note. The good news is average deal size is increasing and Vocerra is vendor of choice, but the bad news is it's a more complex sales cycle to navigate, says the analyst. He reduced his 2020 revenue growth estimate to 16% from 18%.
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