Infloblox (BLOX) Stock Lower, Warns of Q3 Revenue Miss

NEW YORK (TheStreet) -- Infoblox  (BLOX) stock is sliding 0.64% to $15.42 in early-afternoon trading on Tuesday after warning that 2016 third quarter revenue will likely fall short of analysts' estimates.

After yesterday's market close, the Santa Clara, CA-based networking technology vendor said that it expects revenue to range between $81 million and $82 million, down from its previous forecast for revenue between $91 million and $93 million. 

Analysts are looking for revenue of $92 million for the quarter.

For the full year, revenue is now expected to range between $354 million and $358 million, below the company's previous estimate for revenue between $370 million and $380 million. 

Infoblox cited "general softness in IT spending" for the guidance reduction, noting that the impact was primarily in North America. 

The company maintained its previous guidance for adjusted earnings between 5 and 6 cents per share. 

Infoblox is scheduled to report 2016 third quarter financial results on May 25.

Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C-.

Infoblox's strengths such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and compelling growth in net income are countered by the fact that the stock has had a generally disappointing performance in the past year.

You can view the full analysis from the report here: BLOX

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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