Concur Technologies stock rating neutral by Zacks

Concur Technologies stock rating neutral by Zacks : Zacks reiterated their neutral rating on shares of Concur Technologies (NASDAQ: CNQR) in a research note issued to investors on Friday. The firm currently has a $71.00 target price on the stock.

Zacks’ analyst wrote, “We are reaffirming our Neutral recommendation on Concur Technologies with a target price of $71. The company reported a strong fourth-quarter of fiscal 2012, outperforming expectations for revenues, earnings, operating margin as well as free cash flow. This quarter also had record high new customer growth driven by the distribution capacity.

While SMB market segment showed extraordinary growth, global accounts market segment showed strong growth. However, the uncertain macroeconomic environment remains a matter of concern. Furthermore, the company is heavily dependent on sales of a smaller number of solutions. Hence, we maintain a Neutral recommendation on the stock.”

Shares of Concur Technologies opened at 67.52 on Friday. Concur Technologies has a one year low of $47.00 and a one year high of $76.15. The stock’s 50-day moving average is currently $65.2. The company’s market cap is $3.719 billion.

Other equities research analysts have also recently issued reports about the stock. Analysts at Janney Capital initiated coverage on shares of Concur Technologies in a research note to investors on Friday, December 14th. They set a neutral rating and a $70.00 price target on the stock. Separately, analysts at Janney Montgomery Scott initiated coverage on shares of Concur Technologies in a research note to investors on Friday, December 14th. They set a neutral rating on the stock. Finally, analysts at Wunderlich upgraded shares of Concur Technologies from a hold rating to a buy rating in a research note to investors on Monday, December 10th. They now have a $84.00 price target on the stock.