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Juniper Networks Inc JNPR

Rating as of

Morningstar’s Analysis

Valuation
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Juniper Scores a Revenue Growth Hat Trick To Kick Off 2021; Increase FVE to $23; Shares Overvalued

Mark Cash Senior Equity Analyst

Analyst Note

| Mark Cash |

No-moat Juniper Networks started fiscal 2021 with its top line exceeding our expectations but within management’s prior guidance range. The company’s revenue grew 7% year over year, and its adjusted earnings clocked in at $0.30 per share. This performance marked another quarter of year-over-year revenue growth for the firm, a streak we expect the firm to continue through 2021. While we forecast Juniper to have a strong 2021--buoyed by a rebound in IT infrastructure demand as companies move to a hybrid cloud model--we think that some of Juniper’s industry peers could grow even faster in the IT infrastructure market. We increase our fair value estimate from $22 to $23 per share to account for the strength expected in 2021 and view shares as marginally overvalued.

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Company Profile

Business Description

Juniper Networks develops and sells switching, routing, security, related software products, and services for the networking industry. The company operates as one segment and its primary selling verticals are communication service providers, cloud, and enterprise. The California-based company was incorporated in 1996, employs over 9,000 individuals, and sells worldwide, with over half of its sales from the Americas region.

Contact
1133 Innovation Way
Sunnyvale, CA, 94089
T +1 408 745-2000
Sector Technology
Industry Communication Equipment
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type High Yield
Employees 9,950

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