Needham & Company Boosts Numbers on Infoblox (BLOX) on Strong Q3
Tweet
Share
E-mailGet Alerts BLOX Hot Sheet
Price: $14.01 -7.16%
Rating Summary:
5 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
5 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Join SI Premium – FREE
Needham & Company reiterated its Buy rating and raised its price target on Infoblox (NYSE: BLOX) from $26 to $28 following strong Q3 results.
On the quarter, Analyst Alex Henderson commented, "The results exceeded forecasts and previous guidance and the new guidance for the July quarter exceeded street forecasts. Infoblox delivered: Revenues 4.5% ahead of forecast, product sales up 37% y-y, Operating Margins 55% ahead of forecast, and EPS at $0.11 versus $0.06 forecast."
He added, "The strategic value of DNS combined with the data capture enabled by the Grid structure puts Infoblox in a key point of strategic network control. Customers are increasingly recognizing the mission critical importance of DNS/DCHP and are recognizing the need for a bullet proof management and security system for these assets."
The firm increased CY13 EPS to $0.38 from $0.30 and CY14 EPS to $0.55 from $0.52.
For an analyst ratings summary and ratings history on Infoblox click here. For more ratings news on Infoblox click here.
Shares of Infoblox closed at $22.00 yesterday.
On the quarter, Analyst Alex Henderson commented, "The results exceeded forecasts and previous guidance and the new guidance for the July quarter exceeded street forecasts. Infoblox delivered: Revenues 4.5% ahead of forecast, product sales up 37% y-y, Operating Margins 55% ahead of forecast, and EPS at $0.11 versus $0.06 forecast."
He added, "The strategic value of DNS combined with the data capture enabled by the Grid structure puts Infoblox in a key point of strategic network control. Customers are increasingly recognizing the mission critical importance of DNS/DCHP and are recognizing the need for a bullet proof management and security system for these assets."
The firm increased CY13 EPS to $0.38 from $0.30 and CY14 EPS to $0.55 from $0.52.
For an analyst ratings summary and ratings history on Infoblox click here. For more ratings news on Infoblox click here.
Shares of Infoblox closed at $22.00 yesterday.
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Needham & CompanySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
