NEW YORK, February 3 (FinanceEnquiry.com) - Analysts at Deutsche Bank Securities reiterate their Hold rating on the shares of Concur Technologies (NASDAQ: CNQR). The 12-month target price has been raised from $45 to $55.

In a research note published yesterday, the analysts mention that CNQR reported 1Q12 of $100.4 million/$0.32 ahead of the estimate/Street of $99 million/$0.29. The beat is the result of strong market demand and focus on 25% growth. Concur Technologies guided both revenue and EPS slightly up from 25% to 25.5% and from $1.25 to $1.27, respectively, the analysts add. While acknowledging the strong performance this quarter of 24% organic growth, the analysts believe that sustained 25% growth target may struggle if macro environment gets weaker, as per Deutsche Bank Securities.