Market Overview

UPDATE: Goldman Sachs Upgrades Infoblox Inc. to Buy

Share:
Related BLOX
Benzinga's Top Downgrades
Stocks Hitting 52-Week Highs

Shares of Infoblox (NASDAQ: BLOX) were upgraded from Neutral to Buy by Goldman Sachs Thursday morning. The firm maintains a $27 price target on the stock.

Kent Schofield, analyst at Goldman Sachs, believes the “company's FY14 (July) guidance given at the time of the preannouncement will prove to be conservative.” Schofield sees, “sustainable high-teens percent product revenue growth following difficult July (+52% YoY) and October (+33% YoY) comps.”

The drop is an “opportunity to add/build positions in the leader in an underpenetrated core market as well as an emerging player in DNS security,” said Schofield, who sees 41% upside in the future.

Infoblox is scheduled to report earnings February 26th.

Shares are up more than 3 percent to around $19.86 at last check.

Latest Ratings for BLOX

DateFirmActionFromTo
Oct 2016Stephens & Co.DowngradesOverweightEqual-weight
Sep 2016Deutsche BankUpgradesSellHold
Sep 2016GuggenheimDowngradesBuyNeutral

View More Analyst Ratings for BLOX
View the Latest Analyst Ratings

Posted-In: Analyst Color News Upgrades Price Target Analyst Ratings

 

Related Articles (BLOX)

View Comments and Join the Discussion!