NetSuite Winning Back Wall Street?

NetSuite Winning Back Wall Street?

NetSuite SaaSSoftware as a service (SaaS) stocks fell slightly during the week ended February 13, but shares of NetSuite (N) -- provider of on-demand ERP software -- continue to rally. Here's a look at the overall SaaS 20 Stock Index plus the reasons driving NetSuite's recent rally.

Nine Lives Media Inc.'s SaaS 20 Stock index declined 1.74 percent for the week ended February 13. Losers beat winners on the week, 13 to 7. The SaaS 20 Stock Index is now down 1.76 percent for the year -- not so bad, considering the Dow Jones Industrial Average is down 10.55 percent year to date.

Now, for the story at NetSuite. According to Barron's, the SaaS specialist on Feb. 10 delivered...

Q4 revenue of $41.4 million, roughly in line with the Street at $41.6 million, and up 30.5% from a year earlier. The company posted a non-GAAP profit for the quarter of $531,000, or a penny a share. That marked NetSuite’s first-ever profitable quarter. On a non-GAAP basis, the company suffered a loss of $4.5 million, or 7 cents a share.
A day later, NetSuite on Feb. 11 unveiled a marketing push to recruit SAP customers onto the SaaS Platform. Next up, NetSuite's CEO and CFO are scheduled to speak at three investor conferences.

But even before those speaking opportunities emerge, NetSuite investors seem to like what they're hearing from the company. Year to date, NetSuite shares have posted a double-digit percentage gain. (Take a look at the year to date chart, January through February 13.)

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