Ahead of the Bell: Analysts raise estimates on Omniture

NEW YORK—Several analysts raised their estimates on Omniture Inc. after the analytic software company posted an adjusted first-quarter profit that beat Wall Street estimates.

Friedman Billings Ramsey analyst David Hilal maintained his "Outperform" rating on the Orem, Utah, company in a note to investors on Wednesday, and raised his full-year estimate by a penny to 45 cents per share.

Hilal predicted Omniture's first-quarter acquisition of its competitor Visual Sciences Inc. will improve its pricing and add new business as it continues to expand its product footprint.

On Wednesday, Omniture posted a first-quarter profit of 10 cents per share when excluding acquisition-related charges, beating analyst estimates by a penny, according to a survey by Thomson Financial.

RBC Capital Markets analyst Robert Breza called the quarter solid and predicted "no slowdown" ahead.

Omniture shares are underpriced and have room for growth in the wake of the Visual Sciences acquisition and the company's continued market dominance, Breza said in a research note.

The analyst raised his 2008 forecast by 3 cents to 45 cents per share, and reiterated his "Outperform" rating.

Analysts polled by Thomson Financial predict 2008 earnings of 43 cents per share, on average.

On Wednesday, shares of Omniture gained 34 cents to close at $22.48.