Medidata Solutions Receives New Coverage from Analysts at Stifel Nicolaus (MDSO)
Investment analysts at Stifel Nicolaus assumed coverage on shares of Medidata Solutions (NASDAQ:MDSO) in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $47.00 price target on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 18.39% from the stock’s previous close.
The analysts wrote, “We are initiating coverage of Medidata Solutions with a Buy rating on the shares and 12-month target price of $47. Medidata Solutions represents a leading eClinical software platform that drives efficiencies across the planning and execution of clinical trials through cloud-based solutions. We believe the company’s cloud-based offerings coupled with robust analytics, which allow clients to benchmark efforts internally and against competitors, drive a compelling value proposition for Medidata Solutions’ clients.”
Medidata Solutions (NASDAQ:MDSO) traded up 3.47% during mid-day trading on Tuesday, hitting $41.076. 110,842 shares of the company’s stock traded hands. Medidata Solutions has a 1-year low of $32.10 and a 1-year high of $68.21. The stock’s 50-day moving average is $37.62 and its 200-day moving average is $53.03. The company has a market cap of $2.148 billion and a P/E ratio of 226.86.
Medidata Solutions (NASDAQ:MDSO) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.11 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.16 by $0.05. The company had revenue of $76.60 million for the quarter, compared to the consensus estimate of $79.50 million. During the same quarter last year, the company posted $0.18 earnings per share. Medidata Solutions’s revenue was up 21.0% compared to the same quarter last year. On average, analysts predict that Medidata Solutions will post $0.75 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Topeka Capital Markets initiated coverage on shares of Medidata Solutions in a research note on Friday. They set a “buy” rating and a $48.00 price target on the stock. Separately, analysts at Ned Davis Research upgraded shares of Medidata Solutions from a “sell” rating to a “neutral” rating in a research note on Monday, April 28th. Finally, analysts at SunTrust reiterated a “buy” rating on shares of Medidata Solutions in a research note on Wednesday, April 23rd. They now have a $50.00 price target on the stock. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.49.
Medidata Solutions, Inc (NASDAQ:MDSO) is a global provider of software-as-a-service (SaaS), clinical technology solutions.
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