Needham & Company Maintains a 'Buy' on Acme Packet (APKT); Solid 2Q11 Results and Guidance As EMEA Not A Problem
Tweet
Share
E-mailGet Alerts APKT Hot Sheet
Price: $29.24 --0%
Rating Summary:
3 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
Rating Summary:
3 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
Join SI Premium – FREE
Needham & Company maintains a 'Buy' on Acme Packet (NASDAQ: APKT) price target lowered from $82 to $75.
Needham analyst says, "APKT is a pure-play on the powerful secular trend towards IP networks and services by carriers and enterprises. We expect its position as the leading provider of session border controllers (SBC) that enable IP-based services should enable it to see strong growth for the next several years. With likely conservative top line growth expectations of 36-38% in 2011 and a strong history of exceeding estimates, Acme’s fundamental performance is impressive by any measure. That said, given the current valuation level of APKT shares (~10x EV/C12 sales, ~37x C12 EPS) there is limited margin for error."
"We are increasing our 2011 estimates to $319.4MM/$1.16 from $313MM/$1.12, increasing our 2012 estimates to $406MM/$1.48 from $398MM/$1.44 and our 2013 estimates to $414MM/$1.92 from $496MM and $1.86."
For more ratings news on Acme Packet click here and for the rating history of Acme Packet click here.
Shares of Acme Packet closed at $60.10 yesterday.
Needham analyst says, "APKT is a pure-play on the powerful secular trend towards IP networks and services by carriers and enterprises. We expect its position as the leading provider of session border controllers (SBC) that enable IP-based services should enable it to see strong growth for the next several years. With likely conservative top line growth expectations of 36-38% in 2011 and a strong history of exceeding estimates, Acme’s fundamental performance is impressive by any measure. That said, given the current valuation level of APKT shares (~10x EV/C12 sales, ~37x C12 EPS) there is limited margin for error."
"We are increasing our 2011 estimates to $319.4MM/$1.16 from $313MM/$1.12, increasing our 2012 estimates to $406MM/$1.48 from $398MM/$1.44 and our 2013 estimates to $414MM/$1.92 from $496MM and $1.86."
For more ratings news on Acme Packet click here and for the rating history of Acme Packet click here.
Shares of Acme Packet closed at $60.10 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Coherent (COHR) PT Raised to $420 at Needham
- Keefe, Bruyette & Woods Downgrades Bain Capital Specialty Finance (BCSF) to Market Perform
- Rothschild Redburn Upgrades Apple (AAPL) to Buy
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Needham & CompanySign 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!
