Infoblox Inc. (BLOX) Upgraded to “Hold” at Deutsche Bank AG
Infoblox Inc. (NYSE:BLOX) was upgraded by investment analysts at Deutsche Bank AG from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $13.00 target price on the stock. Deutsche Bank AG’s price objective would suggest a potential downside of 50.61% from the company’s previous close.
A number of other equities analysts have also recently issued reports on BLOX. Cowen and Company restated an “outperform” rating and set a $28.00 price target (down from $32.00) on shares of Infoblox in a report on Thursday, May 26th. Needham & Company LLC restated a “hold” rating on shares of Infoblox in a report on Thursday, May 26th. Zacks Investment Research lowered Infoblox from a “hold” rating to a “sell” rating in a research report on Thursday, May 26th. Piper Jaffray Cos. reaffirmed a “buy” rating and set a $24.50 target price (down from $26.00) on shares of Infoblox in a research report on Thursday, May 26th. Finally, DA Davidson reaffirmed an “underperform” rating and set a $18.00 target price on shares of Infoblox in a research report on Thursday, August 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.16.
Infoblox (NYSE:BLOX) traded down 0.11% during mid-day trading on Tuesday, reaching $26.32. The company’s stock had a trading volume of 3,591,396 shares. The company’s market cap is $1.47 billion. Infoblox has a 52-week low of $13.22 and a 52-week high of $26.38. The firm has a 50 day moving average price of $21.00 and a 200 day moving average price of $18.37.
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Infoblox (NYSE:BLOX) last posted its quarterly earnings results on Wednesday, August 31st. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $86.30 million for the quarter, compared to analysts’ expectations of $84.51 million. Infoblox had a negative return on equity of 4.71% and a negative net margin of 3.83%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 EPS. Equities research analysts anticipate that Infoblox will post $0.66 earnings per share for the current year.
In other news, EVP Scott Fulton sold 5,492 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 121,986 shares in the company, valued at approximately $2,787,380.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jesper Andersen sold 14,358 shares of the stock in a transaction on Friday, September 16th. The stock was sold at an average price of $22.85, for a total value of $328,080.30. Following the transaction, the insider now owns 294,738 shares of the company’s stock, valued at approximately $6,734,763.30. The disclosure for this sale can be found here. Insiders own 3.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. DIAM Co. Ltd. purchased a new position in Infoblox during the second quarter valued at $116,000. Teacher Retirement System of Texas increased its position in 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 during the last quarter. Seven Bridges Advisors LLC purchased a new position in Infoblox during the second quarter valued at $153,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Infoblox during the second quarter valued at $212,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Infoblox during the second quarter valued at $222,000. Institutional investors own 91.25% of the company’s stock.
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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