Infoblox Inc. (NYSE:BLOX) will release its fiscal third quarter 2014 financial results for the period ending on April 30, 2014 on Thursday, May 29, 2014 after the financial markets close. Management will host a conference call to discuss the results at 1:30 p.m. PDT/4:30 p.m. EDT.
Wall Street anticipates that the Communication Equipment company will earn $0.03 per share for the quarter, which is $0.08 less than last year's profit of $0.11 per share. iStock expects BLOX to top Wall Street's consensus number, the iEstimate is $0.04.
Revenue, unlike earnings, is expected to creep forward, increasing by 6.2% year-over-year (YoY). Infoblox's consensus revenue estimate for Q3 is $61.65 million, which is a little more than last year's $58.04 million.
Top 5 Financial Companies To Watch For 2015
[Related -Infoblox Inc (BLOX): Getting off the Mat?]
Infoblox is an automated network controller. The Company's network functions include Internet protocol (IP) address management, device configuration, compliance, network discovery, policy implementation, security and monitoring.
A couple of brokers and a IT market research firm feel BLOX should do well, if not with earnings, at least with forward guidance. Deutsche Bank believes the risk/reward for Infoblox is favorable for Thursday's report. The firm says channel checks are solid for new customer wins.
Pacific Crest agrees with Deutsche saying its checks with resellers and partners show that pipeline is filling up, and that growth should reaccelerate this summer.
[Related -Infoblox Inc: Recent Sell-Off Creates Buying Opportunity]
Global IT research firm, IDC reports that Infoblox's market share in DDI (stands for DNS, DHCP, and IP address management solutions) increased to 50 percent in 2013 from 40 percent in 2011 and that three leading competitors with vendors with DDI revenues of at least $10 million experienced share declines.
IDC expects the trend to continue as "The factors driving enterprise-grade DDI adoption will continue to influence growth in the worldwide DDI market for the foreseeable future."
BLOX has topped Wall Street's consensus view four straight quarters by an average of 45.55% more than expected. The better than forecasted results propelled shares higher, much higher. In the three-day surrounding earnings new, EPS-driven jumps of 20.10%, 12.4% and 19.9% surrounded one bad announcement two quarters ago. The massive jumps surely made shareholders smile and short-sellers cringe.
Based on BLOX's chart, if earnings and guidance impress, the resistance can be found at $22.50-$24, which would make for another double digit EPS-driven run. If the numbers stink, then another run to the 52-week low of $17.50 is possible.
Overall: There is bullish sentiment for Infoblox Inc. (NYSE:BLOX) heading into the tech company's quarterly checkup. If channel checks prove out, then another BLOX pop could be in store.
No comments:
Post a Comment