The company reported earnings per share of 29 cents, in line with analysts' estimates. Revenue rose 10.47% year over year to $1.17 billion, which beat the $1.15 billion estimate from analysts polled by Thomson Reuters.
Juniper also issued earnings guidance of 36 cents to 39 cents a share for the second quarter, which surpassed the consensus estimate of 36 cents a share. The company also expects revenue in the range of $1.2 billion to $1.23 billion, while analysts anticipate $1.21 billion.
Wells Fargo also contends Juniper's multiple could expand further if the company continues to move toward meeting its savings target. Furthermore, Wells Fargo believes that the company's second-quarter guidance is conservative. The firm maintains its "outperform" rating on the stock.
Despite all this, the stock fell 4.5% to $24.73 at 2:36 p.m. on Wednesday.
Separately, TheStreet Ratings team rates JUNIPER NETWORKS INC as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate JUNIPER NETWORKS INC (JNPR) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."