Analyst reaction focused on the company forecast - for 2021 revenue of about $1.2B vs. consensus for about $1.18B, and EPS of about $0.46, in line with expectations.
“We found the guidance to be either very conservative or somewhat concerning (we’re not sure which),” Jefferies says, with the revenue forecast surprisingly low. It has a Hold rating and a $26 price target.
Piper Sandler bumped its price target to $27 from $26, saying "Supply chain issues will take longer to correct than anticipated and weigh on margins for longer and we remain concerned with the competitive environment."
And bearish Citi has a Sell rating and $19 price target, noting that despite good results "the sore sore spot in the outlook is gross margin pressure associated with higher shipping and component costs."
On the bullish side, MKM Partners upgraded to Buy from Neutral, saying the pullback offers a nice entry point for long-term investors: "We get it, this is after all JNPR, which has historically traded range-bound between $20-$29, however, post-JNPR's 2Q21 results and commentary suggest that the worst might be behind" the company.
It's raising its 12-month price target to $33 from $26, now implying 25% upside.