Needham & Company Starts Care.com (CRCM) at Buy

Needham & Company initiates coverage on Care.com (NYSE: CRCM) with a Buy rating and a price target of $11.00.

Analyst Kerry Rice comments, "The company has established itself as the leading care-based marketplace with unrivaled scale that enables families and caregivers to seamlessly transact, as well as enhances the user experience, and improves workflow. We believe Care.com’s strong value proposition generates attractive and improving unit economics trends that should continue based on cohort trends. While customer acquisition costs (CACs) are likely to increase modestly near term, we estimate a modest decline in 2015. We view Care.com's new products, verticals, geographic expansion, and advertising as an increasing revenue source."

For an analyst ratings summary and ratings history on Care.com click here. For more ratings news on Care.com click here.

Shares of Care.com closed at $8.01 yesterday.

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