BroadVisionInc. (Nasdaq: BVSN) gained 3 7/8 to close at 46 15/16 Tuesday after analysts at Goldman Sachs and Credit Suisse First Boston upgraded the stock.
Wire reports said Goldman’s Rick Sherlund placed the e-commerce software maker on his firm’s “recommended list” after previously rating the stock outperform. Meanwhile, CS First Boston’s Brent Thill upgraded BroadVision to strong buy from buy.
Last week, BroadVision reported stronger-than-expected results for the first quarter. Revenue rose to $61.5 million from $18.5 million, while net income climbed to $10.0 million, or 4 cents per fully diluted share, from $2.9 million, or one cent, in the year-earlier quarter. Analysts were expecting the company to earn 2 cents a share.
BroadVision signed 110 new licensed customers during the quarter, and said it gained bigger shares in all its core markets.