Infoblox (BLOX) stock plummeted in early trading Wednesday after the company late Tuesday forecast current-quarter revenue below Wall Street expectations, but an analyst says he sees no “smoking gun.” “Revenue guidance for the fiscal second quarter was $1.5 million below the Street revenue estimate at the midpoint, which surprised investors, who have gotten used to consistent a beat-and-raise performance since Infoblox’s (2012) IPO,” Jason Ader,
Infoblox reported fiscal Q1 profit and revenue above views, but the company’s current-quarter outlook fell short of expectations, sending its stock plunging. Infoblox (BLOX) stock was down 21% in after-hours trading. Infoblox late Tuesday said it earned 12 cents per share in the three months ended Oct. 31, up from 6 cents per share in the year-earlier period. Revenue rose 28% to $63.5 million. Analysts polled by Thomson Reuters had estimated
InfoBlox (BLOX) got a price target boost Monday by Needham & Co., as the network-automation specialist is expected to post another 20%-plus quarterly sales gain when it reports fiscal Q1 results after the close Tuesday. Analysts polled by Thomson Reuters estimate InfoBlox will report earnings per share of 9 cents for the quarter ended Oct. 31, up 47% from the year-earlier quarter. Sales are expected to rise 28% to $64 million. Needham analyst Alex