Infoblox (BLOX) Bullish View Reiterated at Needham & Company Amid 'Beat and Raise'

Needham & Company analyst Alex Henderson reiterated a Buy rating and $21 price target on Infoblox (NYSE: BLOX) following strong 'beat and raise' Q1 results.

Henderson commented, "LOX announced its second positive quarterly earnings surprise. Revenues, gross margins, op margins and EPS came in ahead of our and Street estimates. Revenue guidance was also ahead of Street estimates and EPS guide looks conservative and is in line with the Street. Management expressed confidence that it had turned the corner and should post growth during the rest of the fiscal year. BLOX also announced a new CEO, Jesper Andersen, with a strong background from Cisco and Oracle."

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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