Infoblox Inc. (BLOX) Rating Lowered to Neutral at Guggenheim
Infoblox Inc. (NYSE:BLOX) was downgraded by Guggenheim from a “buy” rating to a “neutral” rating in a report released on Tuesday.
BLOX has been the subject of a number of other reports. DA Davidson restated an “underperform” rating and issued a $18.00 price objective on shares of Infoblox in a research report on Thursday, August 25th. Piper Jaffray Cos. restated a “buy” rating and issued a $24.50 price objective (down from $26.00) on shares of Infoblox in a research report on Thursday, May 26th. Cowen and Company restated an “outperform” rating and issued a $28.00 price objective on shares of Infoblox in a research report on Wednesday, August 31st. Zacks Investment Research upgraded shares of Infoblox from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Tuesday, August 2nd. Finally, William Blair lowered shares of Infoblox from an “outperform” rating to a “market perform” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $22.07.
Shares of Infoblox (NYSE:BLOX) opened at 26.35 on Tuesday. The company’s market capitalization is $1.47 billion. The firm’s 50-day moving average is $20.78 and its 200-day moving average is $18.30. Infoblox has a 12-month low of $13.22 and a 12-month high of $26.35.
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Infoblox (NYSE:BLOX) last released its quarterly earnings data on Wednesday, August 31st. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Infoblox had a negative net margin of 3.83% and a negative return on equity of 4.71%. The company earned $86.30 million during the quarter, compared to analyst estimates of $84.51 million. During the same period last year, the business earned $0.12 earnings per share. Infoblox’s revenue was down .8% compared to the same quarter last year. On average, equities analysts predict that Infoblox will post $0.66 EPS for the current year.
In other Infoblox news, insider Jesper Andersen sold 14,358 shares of Infoblox stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $22.85, for a total transaction of $328,080.30. Following the transaction, the insider now directly owns 294,738 shares of the company’s stock, valued at $6,734,763.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott Fulton sold 5,492 shares of Infoblox stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $22.85, for a total transaction of $125,492.20. Following the transaction, the executive vice president now directly owns 121,986 shares in the company, valued at $2,787,380.10. The disclosure for this sale can be found here. Company insiders own 3.20% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. DIAM Co. Ltd. purchased a new position in shares of Infoblox during the second quarter valued at about $116,000. Teacher Retirement System of Texas boosted its position in shares of Infoblox by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 7,936 shares of the company’s stock valued at $149,000 after buying an additional 961 shares in the last quarter. Seven Bridges Advisors LLC purchased a new position in shares of Infoblox during the second quarter valued at about $153,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Infoblox during the second quarter valued at about $212,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Infoblox during the second quarter valued at about $222,000. 91.25% of the stock is currently owned by hedge funds and other institutional investors.
Infoblox Inc provides enterprise and service provider-class solutions to automate management of the critical network infrastructure services. The Company provides network control, network automation and domain name system (DNS) security though appliance-based solutions. The Company’s solutions combine real-time Internet protocol address management (IPAM), automation of network control, change and configuration management processes and DNS-based infrastructure security in purpose-built physical and virtual appliances.
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