Needham & Company Starts Determine (DTRM) at Buy

Needham & Company initiates coverage on Determine (NASDAQ: DTRM) with a Buy rating and a price target of $7.00.

Analyst Scott Berg commented, "We initiate coverage on Determine (DTRM) with a Buy rating and $7 price target. DTRM is a leader in the e-Procurement software subsector, a sector that we believe remains heavily fragmented and ripe for customers to migrate legacy point solutions to suite platforms like DTRM's. We believe DTRM is in roughly inning five of a business transformation that when complete should extend its current product reach through a differentiated suite while delivering a more profitable model. We believe DTRM has the combination to create an attractive investment thesis: reinvigorated product strategy, improving sales execution, a large and fragmented TAM, profitability improvements, and low relative valuation. Cash burn highlights our downside risks if our view on growth and profitability turns out to be overly optimistic."

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

Shares of Determine closed at $4.44 yesterday.

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