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July 24, 2014
10:56 EDTFTNT, CUDABarracuda Networks pullback may be due to misinterpretation, says JPMorgan
JPMorgan says the sell-off in shares of Barracuda Networks (CUDA) could be due to investors misinterpreting comments from Fortinet (FTNT). The firm believes Fortinet's comments regarding focusing on the midmarket may be getting viewed as increased competition against Barracuda. JPMorgan, however, thinks both Fortinet and Barracuda are benefiting from legacy providers focusing less on the midmarket. The firm keeps an Overweight rating on Barracuda with a $39 price target.
News For CUDA;FTNT From The Last 14 Days
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September 29, 2015
17:23 EDTCUDABarracuda to acquire privately held Intronis
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17:08 EDTCUDABarracuda slides 23.61% to $17.99 after Q2 results, guidance
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16:57 EDTCUDABarracuda sees Q3 EPS 7c-8c, consensus 10c
Sees Q3 revenue $79M-$81M, consensus $82.45M. Guidance provided during Q2 earnings conference call.
16:56 EDTCUDABarracuda lowers FY16 EPS view to 34c-36c from 36c-41c, consensus 39c
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16:48 EDTCUDABarracuda says growth in gross billings for Q2 came in below expectations
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16:46 EDTCUDABarracuda says quarter impacted by weaker sales at EMEA
Company cites extended sales cycles in EMEA.
16:44 EDTCUDABarracuda adjusting gross billings growth outlook for 2H to 10%-13%
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16:40 EDTCUDABarracuda says growth in overall storage market has slowed
"We now have more than 261,000 active subscribers and this quarter's dollar-based renewal rates were 95.1%. In the second quarter, gross billings grew to $98.4 million, up 4% sequentially and up 14% year-over-year in constant currency. The currency environment and longer sales cycles which we experienced in EMEA in Q2 impacted our gross billing performance this quarter. Our storage category billings grew in the mid-twenty percent range year-over-year on a constant currency basis in Q2. However, we do see some evidence that growth in the overall storage market has slowed and that customer requirements are evolving, and we are adjusting our approach accordingly," said BJ Jenkins, President and CEO.
16:28 EDTCUDABarracuda says now has more than 261K subscribers
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16:26 EDTCUDABarracuda signs definitive agreement to acquire Intronis
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16:24 EDTCUDABarracuda reports Q2 gross billings $98.4M
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16:23 EDTCUDABarracuda reports Q2 EPS 10c, consensus 9c
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15:15 EDTCUDANotable companies reporting after market close
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11:19 EDTCUDAAnalyst rolls out coverage of IT security stocks with mixed view
Research firm Stifel initiated coverage of IT security company Barracuda Networks (CUDA) with a Buy rating and started coverage of another company in the sector, Imperva (IMPV), with a Hold rating in notes to investors this morning. WHAT'S NEW: Barracuda is "an emerging leader" in the small and medium business security and storage sectors and it's poised to replace legacy systems in those markets, Stifel analyst Gur Talpaz wrote. The lower than expected billings reported by the company for the first quarter was "an aberration," according to Talpaz, who predicts its billings growth should accelerate in Q2. Unlike legacy threat management systems, Barracuda's products can be bought individually, on an "as needed" basis, by small and medium businesses, Talpaz explained. More importantly, Barracuda's products allow a single administrator to view the majority of the company's security infrastructure from any location, Talpaz noted. Additionally, Barracuda's storage solutions can be implemented using appliance, cloud or hybrid systems, according to Talpaz, who set a $36 price target on the shares. Imperva is "the clear leader" in the small but fast growing Web Application Firewall, or WAF, market, the analyst stated. However, many companies still don't view WAF systems as necessary, reasoning that they do not have that many Web applications, according to Talpaz. Moreover, competition in the market is intense, as network vendors such as F5 Networks (FFIV) and cloud vendors such as Akamai (AKAM) are competing in the relatively small space, the analyst stated. Talpaz expects Imperva to report strong Q3 results, but heading into 2016, he believes that the company's future profitability is "limited,"while its competitive end markets will create challenges and its valuation leaves little room for error. WHAT'S NOTABLE: Talpaz also initiated coverage of another company in the sector, Qualys (QLYS), with a Hold rating. PRICE ACTION: In late morning trading, Barracuda slipped 1.2% to $24.33, Imperva dropped 3.6% to $63 and Qualys advanced 0.4% to $28.59.
10:00 EDTCUDAOn The Fly: Analyst Initiation Summary
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06:51 EDTCUDABarracuda initiated with a Buy at Stifel
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September 28, 2015
13:33 EDTCUDABarracuda volatility increases into Q2 and outlook
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September 27, 2015
14:04 EDTFTNTCybersecurity firms look prime for takeover, Barron's says
Cybersecurity companies like Palo Alto Networks (PANW), Fortinet (FTNT), and FireEye (FEYE) are becoming increasingly-attractive takeover targets for a Cisco (CSCO) or IBM (IBM), and any future dip in their stocks could represent a buying opportunity, Barron's contends in its 'Technology Trader' column. Reference Link
September 24, 2015
07:36 EDTFTNTFortinet checks positive, says Oppenheimer
After conducting checks on Fortinet, Oppenheimer says the checks indicate that the company's results could come in at least at the higher end of its guidance. The firm says that the company continues to benefit from a number of positive catalysts, including more large deals and increased demand for high-end products. The firm keeps a $55 price target and Outperform rating on the stock.
September 23, 2015
12:36 EDTFTNT, CUDAGovernment cyber attack affects larger number of fingerprint data
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