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Acme Packet's Numbers Back Up Rally

Accordingly, some caution has crept into Wall Street's view of the stock with seven of the 16 analysts covering the shares at hold (6) or sell (1); although the majority still remain bullish at either strong buy (1) or buy (8). The 12-month median price target of $55, however, seems an acknowledgment that the shares may have a tough time rallying much higher from here.

Back on Jan. 25, the shares dipped down to $49.99, closing below $50 for the first time since Nov. 30 amid concerns about companies with any association to cloud computing. Tuesday's news looked to be giving a slight lift to competitors like Savvis (SVVS) and Internap Network Services (INAP - Get Report); although volume in those names was scant.

-- Written by Michael Baron in New York.



>To contact the writer of this article, click here: Michael Baron.

>To submit a news tip, send an email to: tips@thestreet.com

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
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