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Infoblox (BLOX) PT Lifted to $22 at Piper Jaffray

November 26, 2014 7:07 AM EST
Get Alerts BLOX Hot Sheet
Price: $26.45 --0%

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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Piper Jaffray analyst Troy Jensen reiterated an Overweight rating and boosted his price target on Infoblox (NYSE: BLOX) to $22.00 (from $20.00) following Q1 results.

Jensen commented, "Similar to FQ4, the October FQ1 quarter saw incremental progress driven by security sales, solid new customer additions, cloud trials, improving Fed sales and the closure of several large deals. Infoblox holds a roughly 50% market share in the automated DDI space, making it a leader in an underpenetrated market that has the potential to return to double digit growth, in our view. The company is also seeing continued traction in security and cloud, and we believe that with proper focus and execution BLOX’s growth should continue to strengthen in FY15/16, while we believe operating margins have to potential to increase to 20-22% looking past FY16."

The firm raised FY15E EPS to US$0.18 to US$0.22 and FY16E EPS from US$0.30 to US$0.34.

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 $16.89 yesterday.



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