Stock to Watch for 2013: Infoblox (BLOX)

							Robert DeFrancesco’s
TechStockProspector.com
January 16, 2013


Stock to Watch for 2013: Infoblox (BLOX)
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*The smartphone battles heat up
*Apple searches for its lost momentum
*Best for 2013: LinkedIn or Facebook?
*There’s hope for Acme Packet
*Oracle’s cloud buying binge continues
*2 possible takeover targets in interactive marketing
*Cornerstone OnDemand benefiting from disruption
*A cloud name to watch: SPS Commerce
*Intel plans IPTV service
*How Fortinet can gain share in networking security
*Tibco Software tries to recover from stumble
*Why some big investors like Brightcove shares now
*A strong debut for Ruckus Wireless IPO
*New Symantec CEO is ready to make changes
*Aruba Networks capitalizes on BYOD trend
*Deal Report: Adobe Systems goes social

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There were plenty of Infoblox (BLOX, $19.20) doubters in late November ahead of
the company’s fiscal Q1 (October) earnings report. After the April IPO at $16 a
share, the stock traded to a high of $24.15 in September and then collapsed on
concerns about a possible growth slowdown, dipping to a low of $13.73 on
November 9.

As the stock fell, the company, a provider of automated network control appliances
that enable dynamic networks and next-generation datacenters, even started getting
mentioned as a busted IPO with takeover potential.
Infoblox bulls see the company benefiting from a strong growth trend, as dynamic
networks allow on-demand connections and configurations of devices and
applications, giving organizations the ability to accelerate delivery of virtualization
and cloud computing.

At the end of November, the doubters took a direct hit when Infoblox shares surged
29.5% in one session after the company reported better-than-expected fiscal Q1
results and issued upbeat fiscal 2013 (July) guidance.

For the October quarter, Infoblox’s revenue rose 25.8% to a record $49.5 million,
above the consensus estimate of $46.1 million. All geographies were strong, with
even Europe showing growth on a sequential basis. The latest FY’13 consensus
revenue estimate of $208 million indicates expected growth of 22.9%.

In Q3, TCW Group was the biggest buyer of Infoblox, adding 1 million shares. Other
large buyers in the September quarter: Thomas Weisel Partners ($549 million in
long equity assets/22% tech weighting) boosted its position to 221,230 shares with
the purchase of 185,898 shares and Emerald Advisors ($1.3 billion in long equity
assets/21% tech weighting) upped its stake by 65%, purchasing 115,156 shares.

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Tech-Stock Prospector Managing Editor Rob DeFrancesco has more than 20
years of experience covering the tech sector. He is a former senior writer with
Louis Rukeyser’s Wall Street.

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