Wunderlich Securities Provides Color on Application Networking
Wunderlich Securities provided color on the application networking sector.
In a research report published today, Wunderlich states, “Industry checks have been positive for application networking companies. We believe a rapid return on investment credentials makes demand for products from Allot Communications (ALLT–$17.81, Buy), F5 Networks (FFIV–$112.78, Hold), and Riverbed Technology (RVBD–$39.82, Hold) relatively insensitive to the broader economy. However, relative is a key word here. While channel checks have yet to reveal spending disruption in applications networking, negative preannouncements by Ixia (XXIA–$9.70, Buy) and NetScout Systems (NTCT–$16.72, Hold) indicate a spooky macro environment.”
Wunderlich raised its price target on Allot (NASDAQ: ALLT) from $19 to $21, Riverbed (NASDAQ: RVBD) from $39 to $42 and F5 Networks (NASDAQ: FFIV) from $115 to $120.
On Monday, ALLT added 0.91% to its value to end the day at $17.81. At the same time, Riverbed lost 3.19% of its value to finish the day at $39.82, while F5 Networks fell 3.13% to close the day at $112.78. Ixia (NASDAQ: XXIA) lost 2.02% of its value on Monday to end the day at $9.70. Its shares regained some of yesterday's losses in today's pre-market trading, rising 1.03% to $9.80. Finally, NetScout (NASDAQ: NTCT) lost 0.36% of its value on Monday to end the day at $16.72.
