Stock Watch: Is Still A Strong Buy?

Shares of tumbled 13 percent on Thursday, falling 25-1/4 to 168-1/4 one day after the company reported a first-quarter loss of 23 cents per share. That number was six cents better than Wall Street estimates, but there’s concern that’s $293.6 million (US$) in revenues wasn’t as high as some expected and that losses will grow in upcoming quarters.

However, BancBoston Robertson Stephens still has a lot of faith in the stock. BancBoston Robertson Stephens analysts Lauren Cooks Levitan and Keith E. Benjamin reiterated their strong buy rating on on Thursday, saying that “We expect continued announcements of new businesses, investments in early-stage companies, and strategic acquisitions to act as near-term catalysts for the stock.” But BT Alex Brown cut its rating on from strong buy to buy on Thursday.

Don’t expect the stock’s volatility to end anytime soon.

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