Benchmark Reiterates Rating on NetSuite

Benchmark has published a report on NetSuite reiterating the rating on the business software producer.

In the report, Benchmark wrote, "NetSuite met our $0.02 EPS estimate and delivered 2Q11 total revenue above our number, growing recurring revenue 21% y/y. There was little concern on the quarter, and the Company's competitive position appears intact for now. Despite the solid performance, we're maintaining our Hold rating on valuation."

Benchmark rated NetSuite a HOLD with no price target given. NetSuite closed Thursday at $35.90.