PAR’s Healthy March Quarter Results Offset By Lower Margin Expectations
Analysts at Goldman Sachs reiterate their "neutral" rating on 3PAR Inc (NYSE: PAR), while lowering their estimates for the company. The target price for PAR has been reduced from $12.50 to $12.00.
According to Goldman Sachs, “Top- and bottom-line upside in the March quarter is likely to be balanced by slightly lower-than-expected operating margin and earnings going forward, keeping 3PAR’s shares near current levels…a rebound in new customer acquisition should drive solid high-teens revenue growth in FY2011 (ending March).” As 3PAR’s go-forward estimates are mostly unchanged, the analysts continue to favor the shares of storage vendors with more leverage to increased demand.
Analysts at Goldman Sachs have lowered their non-GAAP 2011 and 2012 EPS estimates from $0.15 to $0.14 and from $0.30 to $0.27 respectively. More Analyst Ratings here
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