Acacia -15.7% as analysts reset views after revenue miss [Seeking Alpha]
ACACIA COMMUNICATIONS (ACIA)
Last acacia communications earnings: 2/18 04:01 pm
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US:NASDAQ Investor Relations:
ir.acacia-inc.com/investor-overview
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Source: Seeking Alpha
Acacia -15.7% as analysts reset views after revenue missAs with other optical-equipment stocks this earnings season, Acacia Communications (NASDAQ:ACIA) is on the slide after arevenue miss and light guidance, down15.7%.MKM Partners has downgraded shares to Neutral, pointing to a business model that calls for big opex increases even as revenues are mostly stagnant. Based on company guidance (for Q1 revenue of $67M-$74M vs. consensus for $93.2M), he's changed his revenue forecast from a gain of 18% to a 5% decline instead. (h/t Bloomberg)Needham also downgraded to Hold. Meanwhile Morgan Stanley lowered its price target to $37, implying just 4.8% upside from current pricing.Cowen noted "another disappointing quarter but updated its price target by raising to $45 from $41.See all stocks on the move »Now read:Cisco: Opportunity On Pullback »
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