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July 2, 2014
08:04 EDTCUDABarracuda Networks likely to deliver beat and raise results, says Pacific Crest
Pacific Crest expects Barracuda's Q1 results to be boosted by a ramping recurring revenue business, a larger portfolio and increased go-to-market capabilities. The firm thinks the company has "a ramping margin profile" and strong fundamentals. It keeps a $40 price target and Outperform rating on the shares.
News For CUDA From The Last 14 Days
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September 30, 2015
07:10 EDTCUDABarracuda downgraded to Equal Weight from Overweight at Stephens
Stephens analyst Jonathan Ruykhaver downgraded Barracuda Networks to Equal Weight following its Q2 earnings report, noting that the company lowered its gross billings guidance even more than many investors had been fearing. The analyst, who thinks macro pressures in Europe and the Middle East could continue to impact performance over the medium term, lowered his price target on Barracuda shares to $22 from $40. Barracuda was also downgraded at Macquarie and at Piper Jaffray this morning.
06:40 EDTCUDABarracuda shares 'too cheap to ignore,' says JPMorgan
JPMorgan analyst Sterling Auty says shares of Barracuda Networks are "too cheap to ignore" following last night's post-earnings selloff. At $18-$19 per share, the stock is trading under 10 times Auty's FY18 cash flow estimates. The company, however, missed for the second quarter in a row billings estimates, the analyst tells investors. He cut his price target for the stock to $30 from $42 and keeps an Overweight rating on the name. Piper Jaffray and Macquarie this morning downgraded Barracuda to Neutral following its Q2 earnings report.
06:32 EDTCUDABarracuda downgraded to Neutral from Outperform at Macquarie
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06:26 EDTCUDABarracuda downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Andrew Nowinski downgraded Barracuda Networks to Neutral saying Q2 marked the second consecutive quarter the company has missed billings expectations. The "cheap" valuation is not compelling enough to continue recommending shares, Nowinski tells investors in a post-earnings research note. He cut his price target for shares to $20 from $40.
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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