UPDATE: Stifel Initiates Coverage on Amber Road on Good Market Position

In a report published Tuesday, Stifel analyst Tom Roderick initiated coverage on Amber Road (NYSE: AMBR) with a Buy rating and $19.00 price target.

In the report, Stifel noted, “Amber Road, originally founded in 1988 as Management Dynamics, is a leader in the rapidly evolving market for Global Trade Management (GTM) solutions, delivered by AMBR via a SaaS-based solution. As the demands for global trade efficiencies continuously increase for companies of all sizes, so do the requirements for automated systems and real-time information. We believe that Amber Road provides a comprehensive set of GTM solutions, augmented by a comprehensive package of global trade content that serves as a true differentiator in the marketplace. We are initiating coverage of Amber Road (AMBR) with a Buy rating and $19 target price.”

Amber Road closed on Monday at $15.17.