Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

Wit Soundview Cuts Serena Software to 'Buy'

Wit Soundview downgraded Serena Software (SRNA) to buy from strong buy.

The software company sees $0.13-$0.14 Q2 EPS on $22.5 million-$23.5 million in revenues, but analyst Gary Spivak says he was looking for $0.23 EPS on $32.5 million in revenues. Late in the quarter, Spivak says his checks indicated a back-end loaded quarter and he thought there was a reasonable chance of a top-line miss, but he says the actual miss looks to be much greater.

Spivak cut the $132.7 million fiscal 2002 (Jan.) revenue estimate to $98.1 million, and cut the 2002 $0.98 EPS estimate to $0.66. He also trimmed the $1.19 fiscal 2003 EPS estimate to $0.78. He says the company not only is affected by the weak economic climate, but also by execution issues in North America and Germany and by much tougher negotiations from customers.

He cut the $36 price target to $18.

blog comments powered by Disqus