Infoblox (BLOX) Seen Beating Consensus Estimates, Deutsche Bank Raises PT to $30
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Rating Summary:
5 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
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Deutsche Bank maintained a Buy rating on Infoblox (NYSE: BLOX) and raised its price target to $30.00 (from $28.00). The change comes ahead Q3 earnings results on Thursday. Analyst Vijay Bhagavath expects a modest beat and raise.
"We are calling for a modest beat and raise versus consensus expectations, heading into the print. We are raising our Price Target from $28 to $30 based on our higher conviction on improving near term fundamentals for BLOX’s core IP Address Automation portfolio and continuing momentum in DNS Security (sub 10% of FY revenues). Our $30 PT is 4.4x EV/Sales; FY16 consensus, versus ~5x peers. We roll out our DCF into out quarters," said Bhagavath.
and ratings history on Infoblox click here. For more ratings news on Infoblox click here.
Shares of Infoblox closed at $25.42 yesterday.
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