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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Procera Networks, Inc. | AMEX:PKT | AMEX | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Company Description
Procera provides intelligent policy enforcement solutions that allow network operators control of and visibility into their networks. Customers include businesses, governments, educators, mobile providers, and any entity operating a private network.
Record-Setting Quarter
On Nov 8 Procera shares spiked thanks to a fantastic quarterly report the day before. Revenue surged 158%, to $12.2 million and bookings were up 360%, to $21 million.
While the company gained several new customers, the top line also grew thanks to increasing orders from current clients. Non-GAAP net income came in at $2.5 million, up from a $382,000 loss a year ago.
Earnings worked out to $0.14 per share, convincingly ahead of the 4-cent loss analysts were expecting. That gave Procera back-to-back surprises. Given the results, the company went on to raise full-year guidance as well.
Big Order
Shortly after the earnings release, Procera announced a $3 million follow-on order. Combine that with the quarterly results and you can see why analysts were eager to raise estimates.
The Zacks Consensus Estimate for this year rose 22 cents, or $0.26. Next year's average projection is up 7 cents, to $0.31. In 2010 Procera lost $0.27 per share, so this has been quite a turnaround.
But...
Valuations are high. If estimates keep growing the share price should as well. But, with a P/E north of 50 times, a PEG nearing 4, a price to sales of 5.9, and price to book of 4.9, it could be a bumpy ride if the earnings growth tappers.
The Chart
Shares of PKT blew right past the 52-week high on after the earnings report and show no signs of stopping. Often after a big jump there is some profit taking or selling on the news, but this Zacks #1 Rank (Strong Buy) is off to the races right now.
1 Year Procera Networks, Inc. Chart |
1 Month Procera Networks, Inc. Chart |
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