William Blair Sees Slightly More Downside Than Upside In Finisar Shares


In a research report issued today, William Blair analyst Dmitry Netis maintained a Market Perform rating on Finisar Corp. (NASDAQ:FNSR). No price target was provided.

Netis observed, “We continue to see slightly more downside than upside in FNSR shares despite what appears to be a fairly priced-in equation based on 11 times our calendar 2015 earnings estimate and reined in expectations for the July quarter. We see not only margins but now also top-line growth as culprits likely leading to further downward estimate revisions. We believe Street estimates for the out year (fiscal 2016) of $1,493 million (embedding 11% revenue growth) and EPS of $1.75 remain a tad aggressive versus our estimates of $1,420 million (8% growth) and $1.68, respectively. For the July quarter, we are slightly above consensus on revenue at $327 million (7% sequential revenue growth) versus the Street’s $325 million, and lower than the Street on EPS by a penny, at $0.32 versus $0.33.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Dmitry Netis has a total average return of -2.3% and a 33.3% success rate. Netis is ranked #2690 out of 3255 analysts.

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