Needham & Company Maintains a 'Buy' on Acme Packet (APKT); 3Q11 Results In Line w/Pre-Announcement
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: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Needham & Company maintains a 'Buy' on Acme Packet (NASDAQ: APKT) price target of $52.00.
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. That said, the 3Q miss on an apparent slip of a very large order demonstrates both the opportunity the company faces, as well as potential risks of managing the timing of such large orders. While acknowledging a more challenging macro environment, which may serve to limit the type of upside to guidance investors had come to expect from Acme, we think the recent pullback in the shares (~55% off its recent highs in the after market) likely accounts for this diminished upside potential."
"Our 2011 estimates remain unchanged at $316.4MM/$1.14. We slightly tweak down our 2012 estimates to $400.4MM/$1.45 from $405MM/$1.47."
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 $38.13 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. That said, the 3Q miss on an apparent slip of a very large order demonstrates both the opportunity the company faces, as well as potential risks of managing the timing of such large orders. While acknowledging a more challenging macro environment, which may serve to limit the type of upside to guidance investors had come to expect from Acme, we think the recent pullback in the shares (~55% off its recent highs in the after market) likely accounts for this diminished upside potential."
"Our 2011 estimates remain unchanged at $316.4MM/$1.14. We slightly tweak down our 2012 estimates to $400.4MM/$1.45 from $405MM/$1.47."
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 $38.13 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
- Globant S.A. (GLOB) PT Lowered to $45 at Needham
- Alpha & Omega Semiconductor (AOSL) PT Lowered to $45 at Needham
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!
