First Albany analyst Mark Murphy said in an investor note last Friday that the said that early checks showed margins of the business intelligence software maker’s Americas business slowing subtly after a long period of strong double-digit growth.
Business Objects’ stock is up 119% since July 2006 and now trades at more or less the same level as arch-rival Cognos, which has admittedly hit a bumpy patch over the past couple of years.
But Murphy also said that competitors, notably Cognos, are also increasing their sales and marketing efforts at a faster rate. [Cognos] is acting rejuvenated and exerting increased presence with a 14% increase in sales reps.
Murphy believes that Microsoft will have a big impact on Business Objects’ mid-market business as well over the coming years.
Business Objects stock dipped 2.5% last Friday in early trading on Nasdaq.
