Conqur (NASDAQ:CNQR) Has Slight Upside Potential for Q1 Says UBS (NYSE:UBS)

Citing their historical practice of beating consensus estimates, even during economic downturns, UBS (NYSE:UBS) sees Conqur (NASDAQ:CNQR) with slight upside potential going forward.

UBS said, "CNQR typically has high visibility one qtr out given its SaaS model and monthly customer invoicing. As such, co has a long history of meeting or beating consensus ests and Street consensus, even during recessions. For FQ1 (Dec.), we expect slight upside potential, albeit to levels that were guided below expectations at the last earnings: UBS rev est. $79.8M (+18% y/y) vs. guide +17%, Street $79.5M; UBS EPS est. $0.19 vs. guide/Street $0.18. Valuation appears fair relative to expectations for rev ramp-up in F2H, flattish op mgn, and attractive business model."

UBS maintains a "Neutral" rating on Conqur, which closed Tuesday at $52.75, losing $0.06, or 0.11 percent. UBS raised their price target on Conqur from $50 to $54.