PHD Virtual and Quest announce Q1 results

Both PHD Virtual and Quest announced yesterday their results for Q1.
This has been a good quarter for PHD virtual, with bookings growing 55% year on year and 70% of them being from new customers. According to Thomas Charlton, CEO, the growth has been led by their VMware and Citrix products.

While news are good for PHD Virtual, Quest Software stock lost 5% when the company announced it missed the objectives for Q1. It should be noted, however, that these are company wide results, not directly related to the virtualization division, and that the increase in costs is mostly due new acquisitions and new hires.

UPDATE: as a result of the announcement, JPMorgan Chase & Co. lowered their price target on shares of Quest Software from $30 to $28 – analysts Stifel Nicolaus also cut their price target from $30 to $27, with a “buy” rating on the stock.