Needham & Company Assumes Medidata Solutions (MDSO) at Buy

Needham & Company assumes coverage on Medidata Solutions (NASDAQ: MDSO) with a Buy rating and a price target of $55.00.

Analyst Scott Berg commented, "We assume coverage of Medidata (MDSO) with a Buy rating and $55 price target. We believe Medidata has become one of the most interesting vertical SaaS companies today, with a secular end market dominant theme and a consistent growth opportunity that few others in the public SaaS domain have today. Along with an attractive valuation, we believe Medidata has the right fundamentals to drive consistent stock outperformance for an extended period, including: 1) a dominant end market theme that can deliver consistent upsell opportunity as customers purchase additional modules to surround MDSO's core data capture product; 2) a large and expanding TAM; and last 3) a highly profitable model with significant leverage that we believe can drive FY17 operating margins and EPS higher than current consensus estimates."

For an analyst ratings summary and ratings history on Medidata Solutions click here. For more ratings news on Medidata Solutions click here.

Shares of Medidata Solutions closed at $48.17 yesterday.

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