Infoblox (BLOX) PT, Est. Lifted at Needham & Company on 3rd Consecutive 'Beat and Raise'
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Rating Summary:
5 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
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Needham & Company analyst Alex Henderson reiterated a Buy rating and bumped his price target on Infoblox (NYSE: BLOX) to $27.00 (from $24.00) following third 'beat and raise' quarter in a row.
Henderson commented, "Infoblox delivered another better than expected quarter and raised guidance above the Street estimates. This was the third beat and raise in a row. Importantly, Product Sales growth hit 20% and Security sales growth roughly doubled year-over-year. With the beat and raise results, we are increasing our estimates and again raising our Price Target, to $27 from $24."
The firm raised FY 2015 EPS from $0.26 to $0.34 and FY 2016 EPS from $0.43 to $0.47.
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 $21.23 yesterday.
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