Needham & Company Maintains a 'Hold' on Acme Packet (APKT); Sidelined for Better Visibility
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Price: $29.24 --0%
Rating Summary:
6 Buy, 15 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 15 | Down: 15 | New: 29
Rating Summary:
6 Buy, 15 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 15 | Down: 15 | New: 29
Trade APKT Now!
Needham & Company maintains a 'Hold' on Acme Packet (NASDAQ: APKT).
Analyst, Richard Valera, said, "We entered the Acme 1Q call looking for something to give us sufficiently increased conviction in the company’s ambitious 2H ramp to enable us to upgrade the shares. Unfortunately, we were left wanting. While the company offered that its enterprise pipeline had improved over the last quarter, they acknowledged that they had seen no real acceleration in the business, and notwithstanding a reaffirmed goal of building backlog in the year, actually used backlog in 1Q12. At the admitted risk of having the “train leave the station”, we maintain our neutral stance on the shares pending improved visibility to a 2H ramp we feel entails risk, acknowledging that if the company is able to execute on its 2H plan the shares could move meaningfully higher from current levels." (lowers FY12 by $0.04 to $0.94 and $0.03 in 2013 to $1.25)
For an analyst ratings summary and ratings history on Acme Packet click here. For more ratings news on Acme Packet click here.
Shares of Acme Packet closed at $28.22 yesterday, with a 52 week range of $24.88-$81.20.
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Analyst, Richard Valera, said, "We entered the Acme 1Q call looking for something to give us sufficiently increased conviction in the company’s ambitious 2H ramp to enable us to upgrade the shares. Unfortunately, we were left wanting. While the company offered that its enterprise pipeline had improved over the last quarter, they acknowledged that they had seen no real acceleration in the business, and notwithstanding a reaffirmed goal of building backlog in the year, actually used backlog in 1Q12. At the admitted risk of having the “train leave the station”, we maintain our neutral stance on the shares pending improved visibility to a 2H ramp we feel entails risk, acknowledging that if the company is able to execute on its 2H plan the shares could move meaningfully higher from current levels." (lowers FY12 by $0.04 to $0.94 and $0.03 in 2013 to $1.25)
For an analyst ratings summary and ratings history on Acme Packet click here. For more ratings news on Acme Packet click here.
Shares of Acme Packet closed at $28.22 yesterday, with a 52 week range of $24.88-$81.20.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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