Jefferies Raises Price Target on Medidata Solutions (MDSO) to $41; Reiterates Underperform
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Medidata Reports Record Third Quarter 2016 Results
October 25, 2016 6:30 AM EDTRecord revenues of $120.1 million, a 5% sequential increase Quarterly subscription revenue tops $100 million for the first time totaling $101.6 million GAAP net income of $7.4 million, or $0.13 per diluted share, a 57% year-over-year increase Reaffirms full-year 2016 total revenue and profitability guidance with 98% adjusted backlog coverage
