NetSuite (N) to Benefit From Shift Toward Cloud

NetSuite (NYSE: N) continues to benefit from a shift in buying patterns away from on-premise software and towards the cloud, according to analysts at Nomura Securities. Commenting on the company’s recent earnings report, analysts noted billings growth of 34 percent, reflecting ongoing robust demand.

"NetSuite continues to sit at an inflection point in top-line growth, where the move up-market has reduced revenue churn and the ongoing partner expansion is helping to generate growth from a broader swath of the market," said analyst Frederick Grieb.

Despite these positive factors, Nomura Securities maintained a Neutral rating on NetSuite given its current valuation, with a price target of $60.00.

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

Shares of NetSuite closed at $56.91 yesterday.

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