PAR Finds It Difficult To Gain New Customers
Analyst Kevin Shea of MKM Partners maintains his "neutral" rating on 3PAR (NYSE: PAR), while adjusting his estimates for the company.
3PAR has reported its Q4 results ahead of expectations. However, PAR’s revenue guidance suggests pricing pressure and difficulties in gaining new customers. “Revenue growth through new customers remains a critical, though elusive, turning point for 3PAR,” the analyst says.
“We think 3PAR is a little delayed on its hiring plans, as the majority of storage companies (i.e. EMC) are reporting improved spending patterns in the storage sector,” the analyst adds. MKM Partners has raised its EPS estimate for FY10 from $0.05 to $0.07 and has reduced its EPS estimate for FY11 from $0.27 to $0.14.
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