Procera Networks (PKT) PT, Estimates Trimmed at Needham & Company Amid Weak Q1
- Yahoo! (YHOO) Tops Q3 EPS by 22c
- EMC Corp. (EMC) Misses Q3 EPS by 2c; Updates FY14 Outlook
- Pre-Open Stock Movers 10/22: (RGLS) (IRBT) (SIX) (BRCM) Higher; (NSPH) (DDD) (HIMX) (LL) Lower (more...)
- Boeing (BA) Tops Q3 EPS by 16c; Boosts FY14 EPS Outlook
- Abbott Labs (ABT) Tops Q3 EPS by 3c; Raises FY14 EPS Midpoint
Needham & Company analyst Alex Henderson lowered estimates and his price target on Procera Networks (NASDAQ: PKT) to $12.00 (from $14.00) following Q1 but maintained a Buy rating. The analyst notes results were weak but promises ramped which may leave investors skeptical.
Henderson comments, "Procera continues to struggle. If the stock wasn't at such a distressed valuation, we would might consider throwing the towel in on it. But at 0.8x EV/Sales on CY15 with only modest top line growth assumed, we find it hard to get that bearish. The 0.75 B-B and the steep ramp implied by the CY2H guidance makes making the numbers look questionable for a company that has already been a serial forecast miss-er, in our view. The strong results at Sandvine and Allot likely make the challenge of turning it around even more difficult. We are grudgingly sticking with our Buy rating but would qualify that: this name is probably best for deep value investors."
The firm lowered FY 2014 EPS from $0.02 to ($0.11) and FY 2015 EPS from $0.34 to $0.25.
Shares of Procera Networks closed at $9.44 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Global Hunter Securities Downgrades Gulfmark Offshore (GLF) to Neutral
- Yahoo! (YHOO) PT Lifted to $48 at BofA/Merrill Lynch
- Goldman Sachs Lifts Apple (AAPL) Price Target 8% to $124
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!