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Fly News Breaks for July 26, 2019
VCRA
Jul 26, 2019 | 08:46 EDT
William Blair analyst Ryan Daniels recommends buying shares of Vocera Communications today on any material weakness. The company last night reported "relatively solid" Q2 results, however, management modestly updated its 2019 guidance, reducing its sales forecast by about $6M, or 3%, at the midpoint of the range, Daniels tells investors in a research note. He attributes this to the timing of several larger enterprise bookings. This is merely a timing issue, as the company has good visibility into closing these deals, just later than anticipated, says Daniels. While the stock likely will sell off modestly on the guidance reduction, the risk profile is actually lower now, and management alluded that the new guidance is somewhat conservative, contends the analyst. Daniels reiterates an Outperform rating on Vocera.
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