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Velti (VELT -8.3%) adds to yesterday's giant losses after Wells Fargo and Craig-Hallum downgrade...

Velti (VELT -8.3%) adds to yesterday's giant losses after Wells Fargo and Craig-Hallum downgrade shares in response to the company's analyst day remarks. CFO Jeff Ross' comments lead Wells to think "greater discipline on contract quality and geographical mix will have a significant negative impact on both revenue and EBITDA growth in the near-term" - Velti has already said it will divest assets in markets with very high collection times. The firm also notes formal 2013 guidance wasn't provided.
Comments (2)
  • The Company is exactly where it should be in this industry but since their management pocketed a fortune on the IPO they are bent on expansion first and profit later at shareholders' expense.
    They need a new CEO to up their margins and cut their overheads fast and they will be worth £1 billion in three months if they don't get bought out first by Facebook. The new CFO needs show his hand and put the CEO in order along with the Institutions who purchased his shares for their clients. There have been too many elementary mistakes made by an Greek manangement inexperoenced in running a listed company. The CEO needs removing.
    31 Jan 2013, 01:20 PM Reply Like
  • are you still of the same opinion john ?
    22 Feb 2013, 04:14 AM Reply Like
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