Tue, Nov. 29, 2:35 PM
Wed, Nov. 16, 11:36 AM
- Goldman Sachs has added Juniper Networks (NYSE:JNPR) to its Conviction Buy list, with an eye to momentum from the company's Switching product and upside ahead in its estimates.
- Switching makes up 17% of sales estimates, and Goldman sees Switching revenues at nearly $100M (10% higher than consensus), writes analyst Simona Jankowski.
- She has a price target of $31, near 19% upside from here.
- “Juniper’s new switching products expand its TAM in the high growth data center switching segment, where it can gain share from Cisco Systems and compete with Arista Networks," she writes. The company has seen good traction and with a last QFX product out in Q4, switching growth should accelerate from there.
Tue, Nov. 1, 10:39 AM
- Juniper Networks (NYSE:JNPR) is off 1.8% as Morgan Stanley downgrades shares to Underweight, noting shrinking partnerships in a time when the company faces headwinds in services margins.
- Analyst James Faucette cut the firm's price target on JNPR to $20, from $24, implying another 23% downside from today's price.
- Tech providers will need to subsidize initial investments for carriers moving to all-IP networks, Faucette notes. "Capital scarcity and negotiating leverage will pressure services margins, favoring vendors that leverage other technology providers' services arms. Cisco's partnership with Ericsson and Nokia's acquisition of Alcatel will force Juniper to bear the margin headwinds alone."
- Strategic options are probably limited, he says, and "Underinvesting in an overinvested industry elevates market share risk and pricing pressure."
- Over the weekend, FBN reiterated its Sector Perform rating and bumped its price target to $28 from $25.
- The company just noted that the National Credit Union Federation of Korea chose it for a major data center modernization project. The federation manages almost $62B in assets through 906 nationwide cooperatives.
Wed, Oct. 26, 9:12 AM
Tue, Oct. 25, 5:37 PM
Tue, Oct. 25, 4:47 PM
- Juniper's (NYSE:JNPR) jumping, up 9.1% after hours so far, following Q3 results where it beat expectations on profits and revenue and guided to the upside for Q4.
- Revenues grew 3% from the prior year and were up 5% Q/Q. Operating margin (non-GAAP) was 24.4%, down from the prior year's 25.5% but an increase from Q2's 22.5%.
- "We delivered solid profitability and continued to generate strong cash flow from operations, with meaningful sequential improvements across key performance metrics: earnings per share, operating margin and operating income," said CFO Ken Miller.
- Revenue breakout: Product, $928.2M (up 0.3%); Service, $351.1M (up 8.6%).
- It's guiding to Q4 revenues (assuming stable exchange rates) of $1.32B-$1.38B (above consensus for $1.32B) and non-GAAP EPS of $0.59-$0.65 (vs. consensus for $0.60). It sees non-GAAP gross margin of 62.5%-63.5% and opex of $505M-$515M.
- Conference call to come at 5 p.m. ET.
- Press Release
Tue, Oct. 25, 4:23 PM
Mon, Oct. 24, 5:35 PM
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Tue, Aug. 30, 7:10 AM
Tue, Jul. 26, 4:44 PM
- Juniper Networks (NYSE:JNPR) is off slightly after hours, -1.5%, after its Q2 results featured beats on top and bottom lines but also Q3 profit guidance to the low side of expectations.
- Revenues reversed course sequentially, growing 11%, but were flat Y/Y. Net income fell 11% on a GAAP basis and 8% on a non-GAAP basis (up 35% sequentially).
- For Q3, the company says it will "continue to prudently manage operating expenses. However, it expects gross margins to remain approximately at their Q2 levels in the near-term. As a result, Juniper expects operating margins for the full year 2016 to decline slightly relative to the full year 2015." It's guiding to revenues of about $1.25B (vs. consensus for $1.244B) and non-GAAP EPS of $0.48-$0.54 (vs. $0.54 consensus). It expects gross margin of about 63%; operating margin of 23% at the revenue midpoint, and a tax rate of about 26.5%.
- Revenue breakout: Product, $862.1M (down 4.2%); Service, $359.2M (up 11.4%).
- Days sales outstanding were 55, compared to Q1's 64 days and a year-ago 39 days. Capex was $68M.
- Conference call to come at 5 p.m. ET.
- Press Release
Tue, Jul. 26, 4:18 PM
Mon, Jul. 25, 5:35 PM
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Wed, Jul. 6, 8:29 AM
- "Basis for our range bound view is our research with the Service Provider Channel noting potential for margin pressure and share loss in Juniper's (NYSE:JNPR) routing business in FY17/18," says analyst Vijay Bhagavath, downgrading to Hold with price target cut to $22 from $30.
- Longer-term, he's still constructive, noting potential for the company to introduce next-gen custom silicon routers in FY18 that could offset the near-term share loss and margin erosion trends.
- Shares -2.25% premarket to $21.57.
Fri, May 20, 5:39 PM
Thu, Apr. 28, 4:42 PM
- Juniper Networks (NYSE:JNPR) missed slightly with disappointing Q1 results where revenues gained slightly Y/Y but fell 17% from the fourth quarter.
- Similarly, net income (non-GAAP) of $142.2M rose 8% Y/Y but tumbled 43% from Q4. "We remain constructive on the full year and encouraged by early customer feedback on our recently introduced new products," says CEO Rami Rahim.
- Net cash flow from operations fell to $172M from a year-ago $219M.
- Days sales outstanding rose to 64 days from a year-ago 43 (and Q4's 53 days).
- Including BTI Systems -- an acquisition that closed April 1 -- the company's guiding to Q2 revenues of $1.16B-$1.22B (in line) and EPS of $0.44-$0.50 (vs. $0.49 expected).
- Shares fell 0.6% after hours after declining 1.8% during the regular session.
- Conference call to come at 5 p.m.
Thu, Apr. 28, 4:19 PM
- Juniper Networks (NYSE:JNPR): Q1 EPS of $0.37 misses by $0.01.
- Revenue of $1.09B (+1.9% Y/Y) misses by $30M.
- Shares -2.61%.