Wedbush Starts Infoblox (BLOX) at Neutral; Bright Future, But Valuation High in Tough Market
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Price: $22.40 +0.72%
Rating Summary:
6 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 25 | New: 12
Rating Summary:
6 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 25 | New: 12
Trade BLOX Now!
Wedbush initiates coverage on Infoblox (NYSE: BLOX) with a Neutral. PT $22.00.
Analyst, Sanjit Singh, said, "...we believe the signs of slowing in the IT spending environment, a deteriorating demand outlook in Europe, ramping investments in sales, and the stock’s premium valuation leave little room for material upside from current levels. Longer term, however, we think Infoblox is poised to deliver sustainable double-digit growth and significant improvements in OM, given its strong leadership position in the fast-growing DDI market."
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 $21.43 yesterday, with a 52 week range of $16.80-$23.35.
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Analyst, Sanjit Singh, said, "...we believe the signs of slowing in the IT spending environment, a deteriorating demand outlook in Europe, ramping investments in sales, and the stock’s premium valuation leave little room for material upside from current levels. Longer term, however, we think Infoblox is poised to deliver sustainable double-digit growth and significant improvements in OM, given its strong leadership position in the fast-growing DDI market."
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 $21.43 yesterday, with a 52 week range of $16.80-$23.35.
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