RW Baird Downgrades Agile Software Rating

Analyst Patrick Snell sees continued challenges in the software company's core customer base, and says there's a lack of near term catalysts

RW Baird downgraded Agile Software (AGIL ) to market perform.

Analyst Patrick Snell says he downgraded given the continued challenges in the company's core customer base of electronics/high-tech companies, and the Programmable Logic Memory (PLM) market. He notes as of Jan. 31, Agile had just under $6 per share in cash creating a floor.

Snell sees a lack of near term catalysts. He notes the company also is in the early stages of diversifying its business model. He thinks Agile is positioned to bounce back from a challenging 2001; and adds that the upgraded and replaced salesforce's pipeline now is accelerating.

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