Goldman Comments on Infoblox's (BLOX) FQ1

Following the company's FQ1 earnings beat and guidance raise on Wednesday, Goldman Sachs maintained a Neutral rating on Infoblox (NYSE: BLOX) and raised its price target to $20.00 (from $19.00).

Commenting on the results, analyst Kent Schofield said, "We believe Infoblox’s F1Q showed the benefits of a product cycle in an underpenetrated market by producing double-digit qoq product revenue growth."

With shares expected to open significantly higher, Goldman remains Neutral, but analysts think expected growth in NetMRI and some early success with recently launched products will lead to another revenue beat in F2Q.

Goldman raised FY13, FY13, and FY15 non-GAAP EPS estimates to $0.24/$0.41/$0.68 from$0.09/$0.33/$0.60.

For an analyst ratings summary and ratings history on Infoblox (NYSE: BLOX)click here. For more ratings news on Infoblox click here.

Shares of Infoblox closed at $13.95 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Growth isn't weak enough to truly undercut inflation pressures - BMO
• American International Group (AIG) PT Raised to $89 at Piper Sandler
• AvidBank Holdings Inc. (AVBH) PT Lowered to $23 at Piper Sandler