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Fly News Breaks for October 25, 2019
VCRA
Oct 25, 2019 | 05:23 EDT
Piper Jaffray analyst Sean Wieland lowered his price target for Vocera Communications to $28 from $34 while keeping an Overweight rating on the shares. While all of the deals that slipped from Q2 were signed in Q3, more departmental deals forecasted for Q3 have morphed into Enterprise deals, further extending the average sales cycle, and pressuring growth, Wieland tells investors in a post-earnings research note. The analyst reduced Vocera's multiple given its lowered revenue growth outlook due to lengthening sales cycles.
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