Needham & Company Reiterates a 'Buy' on Network Engines (NEI); Strong Positive Preliminary F1Q Results

Needham & Company reiterates a 'Buy' on Network Engines (NASDAQ: NEI) price target of $2.00.

Needham analyst says, "We continue to believe that overall demand for NEI’s business is solid at EMC (NYSE: EMC) as well as other customers as evidenced by strong preliminary F1Q results. With shares trading at ~75% working capital and ~60% tangible book, we encourage fundamental micro-cap investors to become aggressive."

"Our F1Q now $69M & $0.04 vs. prior $60.5 & $0.02. F12 becomes $265M & $0.12, vs. prior $252M & $0.10."

For an analyst ratings summary and ratings history on Network Engines click here. For more ratings news on Network Engines click here.

Shares of Network Engines closed at $1.22 yesterday.

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