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Infoblox (NASDAQ:BLOX) was downgraded by equities research analysts at Needham & Company from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $49.00 target price on the stock. Needham & Company’s price target would suggest a potential upside of 47.86% from the company’s current price.

Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Infoblox from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 28th. They now have a $34.90 price target on the stock. Separately, analysts at Citigroup Inc. initiated coverage on shares of Infoblox in a research note on Tuesday, December 10th. They set a “neutral” rating and a $32.00 price target on the stock. Finally, analysts at Cowen and Company cut their price target on shares of Infoblox from $45.00 to $43.00 in a research note on Friday, November 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $71.77.

In other Infoblox news, VP David Nicholas Gee sold 8,333 shares of the stock on the open market in a transaction dated Monday, February 3rd. The shares were sold at an average price of $34.55, for a total value of $287,905.15. Following the completion of the sale, the vice president now directly owns 23,000 shares in the company, valued at approximately $794,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Infoblox (NASDAQ:BLOX) traded down 46.93% during mid-day trading on Tuesday, hitting $17.588. The stock had a trading volume of 23,667,976 shares. Infoblox has a 1-year low of $18.59 and a 1-year high of $48.97. The stock’s 50-day moving average is $34. and its 200-day moving average is $37.44. The company’s market cap is $931.6 million.

Infoblox (NASDAQ:BLOX) last posted its quarterly earnings results on Tuesday, November 26th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. The company had revenue of $63.50 million for the quarter, compared to the consensus estimate of $63.50 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 28.3% on a year-over-year basis. On average, analysts predict that Infoblox will post $0.50 earnings per share for the current fiscal year.

Infoblox Inc (NASDAQ:BLOX) is an automated network controller.

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