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Fly News Breaks for October 25, 2019
Oct 25, 2019 | 08:40 EDT
Craig-Hallum analyst Matt Hewitt downgraded Vocera Communications to Hold from Buy with a price target of $21, down from $38. While the company's Q3 results beat consensus, management indicated on the call that the sales cycle has continued to lengthen and that revenue growth is likely to remain at recent muted levels for at least the next few quarters, Hewitt tells investors in a research note. The analyst, who believes Vocera can get past these issues and return to significant revenue growth in a couple of years, cites a lack of visibility on when acceleration will occur and what the growth rate of the business will ultimately be for the downgrade to Neutral.
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