Janney Montgomery Downgrades E.piphany to 'Hold'

Analyst Robert Mattson cut his rating after company announced it sees a lower than expected $22 million in revenue

Janney Montgomery downgraded E.piphany (EPNY ) to hold from buy.

Analyst Robert Mattson says the company's relatively small revenue base, its reliance on large deals and key customers make its top line vulnerable despite having signed a contract. He says the company's revenue miss on a signed contract may be due to competitive pressures, but adds that management has been quiet on the details, pending a resolution of the situation. Mattson notes it is uncertain if this is a lost deal or just delayed. He says yields input a $7 target.

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