S&P Capital IQ Reiterates its HOLD Rating on RightNow Technologies

October 25 00:00 2011

NEW YORK, October 25 (RainbowNewsLine.com) – Analyst Scott Kessler of S&P Capital IQ reiterates his HOLD rating on the shares of RightNow Technologies (NASDAQ: RNOW). The target price is set to $43.

Analyst Scott Kessler, in a research note published yesterday mentions that the company announced it is acquired by Oracle (NASDAQ: ORCL) for $43 a share or $1.5 billion net cash and debt. The deal is expected to be closed by early next year and will deliver strong value for RightNow Technologies, the analyst says. RightNow Technologies’ shares are already trading near all-time high, and just 20% premium to Friday’s closing price might attract another bid, the analyst mentions. The deal would add value to Oracle’s cloud computing and other customer service offerings, the analyst adds.