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May 19, 2014
11:33 EDTCUDA, IMPV, PFPT, FEYEFireEye advances after analyst predicts sentiment could rebound
Shares of IT security company FireEye (FEYE) are rallying after Nomura predicted in a note to investors earlier today that sentiment towards the stock could improve following its lock-up expiration on May 21. WHAT'S NEW: After restrictions preventing FireEye insiders from selling stock expire on May 21 investors could become more optimistic about the shares, Nomura analyst Rick Sherlund predicted. FireEye has a robust opportunity in the IT security market and its technology is "best-of-breed," while its management team is strong, the analyst stated. Additionally, the company is adding new products and its advanced persistent threat technology could become more mainstream, said Sherlund. FireEye is investing heavily and losing money, but investors with a longer term time horizon could benefit from the company's positive attributes, the analyst indicated. The stock reached an attractive entry point, wrote Sherlund before the market opened. He kept a Buy rating on the shares. PRICE ACTION: FireEye, which has tumbled about 60% in the last three months, rose about 3% to $28.82 in late morning trading. OTHERS TO WATCH: Other stocks in the sector were also advancing this morning, with Proofpoint (PFPT) rising 5.5%, Imperva (IMPV) gaining 2% and Barracuda Networks (CUDA) climbing a bit more than 2%.
News For FEYE;PFPT;IMPV;CUDA From The Last 14 Days
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September 29, 2015
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 EDTIMPV, CUDAAnalyst 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 EDTIMPV, CUDAOn The Fly: Analyst Initiation Summary
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06:52 EDTPFPTProofpoint coverage resumed with a Buy at Stifel
Target $75.
06:51 EDTCUDABarracuda initiated with a Buy at Stifel
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06:51 EDTIMPVImperva initiated with a Hold at Stifel
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September 28, 2015
13:33 EDTCUDABarracuda volatility increases into Q2 and outlook
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07:38 EDTFEYEBox to hold a user conference
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September 27, 2015
14:04 EDTFEYECybersecurity 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 23, 2015
20:08 EDTFEYEChinese president visits U.S. amid cybersecurity, copyright worries
As part of his first official U.S. visit, Chinese president Xi Jinping held a meeting with American business leaders on Wednesday to address concerns of copyright infringement and cybersecurity, among numerous topics. In attendance were corporate giants from both nations, including Microsoft (MSFT), Apple (AAPL), Amazon (AMZN), Cisco (CSCO), Alibaba (BABA), Tencent (TCEHY), and Baidu (BIDU), according to media reports. COPYRIGHT CONCERNS: Responding to oft-cited concerns of copyright infringement by Chinese companies, Xi said China will "stand firm to protect" the intellectual property rights of American companies, according to Wall Street Journal coverage of the event. Note that in late 2014, China began establishing specialized courts to deliberate on intellectual property rights cases, and Xi commented Wednesday that "the newly established IPR courts are working smoothly. This means there will be much stronger IPR protection which will serve the interests of foreign businesses as well as Chinese companies." Chinese consumer electronics company Xiaomi is perhaps the most talked-about firm when it comes to the matter, with media outlets frequently criticizing its alleged "copying" of Apple design sensibilities. In mid-July, Xiaomi VP of global operations Hugo Barra told Bloomberg that the company is preparing to enter U.S. markets, though he cautioned that the launch could be "much more" than a year away as it seeks to build up its patent portfolio. CYBERSECURITY TENSIONS: Wednesday's meeting comes in the wake of numerous high-profile "hack attacks," with Sony (SNE), American Airlines (AAL), Anthem (ANTM), United Airlines (UAL), and Target (TGT) all reporting digital security breaches in recent years. Xi has consistently denied the involvement of state-backed hackers, but tensions have nevertheless arisen as cybersecurity firms such as FireEye (FEYE) and Palo Alto Networks (PANW) backtrace connections to the country. Cybersecurity intrusions originating from China have recently slowed ahead of Xi's visit, according to Reuters, with Kevin Mandia of security firm Mandiant telling the publication, "In my gut, I feel like the Chinese and the U.S. over the next couple of years are going to figure this out."
12:36 EDTFEYE, IMPV, CUDA, PFPTGovernment cyber attack affects larger number of fingerprint data
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12:16 EDTFEYE, IMPVPiper says reseller event positive for Palo Alto, Imperva, CyberArk
Piper Jaffray analyst Andrew Nowinski says his investor briefing with a large security reseller yielded positive feedback on Palo Alto (PANW), Imperva (IMPV) and CyberArk (CYBR). The reseller's customers' top spending priority is now inside threat protection, which bodes well for Imperva and CyberArk, Nowinski tells investors in a research note. Further, their growth with Palo Alto continues to ramp and should exceed 50% in 2016, the analyst adds. Nowinski found comments around FireEye (FEYE) "slightly more cautious" with some viewing the Mandiant service organization as competitive to their professional service offerings.
11:19 EDTFEYEApple security breach larger than first thought, Sky News says
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