Markets & Finance

Janney Montgomery Downgrades E.piphany to 'Hold'

Janney Montgomery downgraded E.piphany (EPNY) to hold from buy.

Analyst Robert Mattson says the company's relatively small revenue base, its reliance on large deals and key customers make its top line vulnerable despite having signed a contract. He says the company's revenue miss on a signed contract may be due to competitive pressures, but adds that management has been quiet on the details, pending a resolution of the situation. Mattson notes it is uncertain if this is a lost deal or just delayed. He says yields input a $7 target.

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