Analyst Insights: BroadSoft, Exelixis, PROS Holdings, Wynn Resorts, Oceaneering May 8th
BroadSoft, Inc. (NASDAQ:BSFT): After BroadSoft provided weaker than expected Q2 guidance and the stock sank 19% to $33.15, Pacific Crest believes that the shares could jump to $52, but have a floor of $31. The firm is upbeat about the company’s intermediate to long term outlook and recommends buying the stock on weakness.
Exelixis, Inc. (NASDAQ:EXEL): Maxim sees significant upside potential with limited downside risk in shares of Exelixis at current levels and reiterates a Buy rating on the name with a $9 price target. The firm says Exelixis is likely to provide confirming evidence of cabozantinib in multiple cancers at the upcoming American Society of Clinical Oncology meeting held on June 1-5.
PROS Holdings, Inc. (NYSE:PRO): After PROS provided lower than expected Q2 revenue guidance, Pacific Crest notes that the company is bullish on its pipeline. The firm reports that this outlook is consistent with its own checks, and it maintains an Outperform rating on PROS.
Wynn Resorts Ltd. (NASDAQ:WYNN): Susquehanna said Wynn Resorts Q1 results were disappointing as Las Vegas RevPAR and Macau missed estimates due to margins. The firm expects multiple expansion when investors view the name as a growth story with the addition of Cotai. Shares are Positive rated.
Oceaneering International, Inc. (NYSE:OII): Oceaneering announced its largest umbilicals contract yesterday supplying 200 kilometers of control umbilicals to Petrobras. The firm said its expanding presence in Brazil and additional contract wins will provide catalysts near-term. Shares are Conviction Buy rated with a $66 price target.
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