Needham & Company Starts Procera Networks (PKT) at Buy

February 4, 2013 8:32 AM EST
Get Alerts PKT Hot Sheet
Price: $11.50 --0%

Rating Summary:
    3 Buy, 7 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 9
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Needham & Company initiates coverage on Procera Networks (NASDAQ: PKT) with a Buy and $25 price target, suggesting 48% upside.

The firm calls PKT "a pure play in the Intelligent Traffic Management market with technology based on Deep Packet Inspection." They see rapid sector growth of 25-35%.

"The market for DPI systems that enable traffic differentiation and policy enforcement is growing at a rapid rate. This growth is driven by the exceptional growth in wireless and wireline service provider IP traffic, which is generally in the 50-100% vicinity for wireless service providers and in the 30-50% vicinity for wireline networks."

For an analyst ratings summary and ratings history on Procera Networks click here. For more ratings news on Procera Networks click here.

Shares of Procera Networks closed at $16.93 yesterday.

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