Wedbush Morgan Upgrades RightNow Tech

Analyst Nathan Schneiderman says the software company had a successful fourth quarter with bookings growht and a rise in big deals

Wedbush Morgan upgrades softward company RightNow Tech (RNOW ) to buy from hold.

Analyst Nathan Schneiderman says the recent pullback in stock from $16 presents investors with an attractive entry point. He thinks the pullback more than compensates for a few weak points in the fourth quarter.

He says he views the fourth quarter as largely successful, what with bookings growth, customer adds, and a rise in big deals. He ties some of the recent pullback to insider sales and investor confusion about 10-K filing deadline.

Schneiderman notes the company has not delayed its filing and has until Mar. 31 to meet its filing deadline. He remains upbeat about the on-demand application sector. He maintains his 20 cents 2005 earnings per share and 30 cents 2006 estimates.