Acacia Communications (ACIA): Raising Estimates Yet Again - Needham
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Needham & Company analyst, Alex Henderson, reiterated his Buy rating on shares of Acacia Communications (NASDAQ: ACIA) after the company sharply beat estimates and guided substantially above the original 4Q estimates, in place before the positive pre-release.
The actual results and guide were even better than the raised Street estimates after the preannouncement. The analyst stated "Acacia said all the right things on the call and offered guidance with plenty of room for further upside on the CY4Q print in February."
Estimates go up for the second time in a quarter but not enough to raise the $125 price target.
Shares of Acacia Communications closed at $71.68 yesterday.
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