Credit Suisse downgrades Diligent to neutral ahead of new product spending

Tue, 03 Mar 2015

By Suze Metherell March 3 (BusinessDesk) - Diligent Board Member Services's plans to spend up ahead of its new product has seen the governance software developer's stock downgraded by Credit Suisse's local analyst. The stock has been cut to a 'neutral' rating from a previous 'outperform' by First NZ Capital research analyst, James Schofield. Yesterday, the New York-based company announced profit rose 43 percent to US$8.59 million in the year ended Dec. 31, as sales climbed 28 percent to US$83.1 million, while revealing plans to launch a n...

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