Research in Motion (NASDAQ:RIMM) Gets No Respect as Revenue Soars

With the financial media obsessed with their rivals, Research in Motion (NASDAQ:RIMM) continues to receive little or no respect even as they continue to churn out great quarters.

Needham said, "Research in Motion once again beat consensus estimates while raising guidance for the fourth quarter. RIM’s ability to defy its critics continues...RIM gets no respect. Despite 40% revenue growth, the stock is trading at less than 10 times current year earnings...We’re raising our fiscal 2011 estimate from $6.05 to $6.35 and our 2012 estimate from $6.45 to $7.40.

"The major risk in the story is that the accelerating market share gains of the Android smartphone platform could stunt RIM’s revenue growth going forward."

Needham & Company maintains a "Buy" rating on Research In Motion, which was trading at $60.71, up $1.47, or 2.48 percent, as of 12:10 PM EST. Needham raised their price target on RIM from $75 to $90.