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News Breaks
July 7, 2014
07:18 EDTFTNTFortinet Q2 results likely to surpass guidance, says Oppenheimer
After conducting checks, Oppenheimer's confidence in Fortinet's outlook has improved, and the firm expects the company to report Q2 results that exceed the top end of its guidance. The firm increased its Q2 revenue estimate for the company above consensus levels, but its EPS estimate remains unchanged and in-line with consensus. It keeps an Outperform rating on the shares.
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September 1, 2015
10:59 EDTFTNTCyberArk bucks downward market trend after Piper upgrade
The shares of Israeli cybersecurity company CyberArk (CYBR) are flat despite the large decline in the broader market after research firm Piper Jaffray upgraded the stock to Buy from Hold. The stock's decline has created an attractive entry point, as companies are becoming more interested in the type of products CyberArk offers, Piper analyst Andrew Nowinski contended. WHAT'S NEW: After conducting extensive checks, Nowinski believes that companies are becoming more interested in Privileged Account Management, the area in which CyberArk specializes. Enterprises are focusing on this area more intently because they realize they need to spend more on protecting their most critical assets within firewalls, the analyst stated. As a result of this trend, CyberArk's market share gains could accelerate, Nowinski believes. Moreover, the company is one of the few cybersecurity companies capable of generating 40%+ revenue growth and 20%+ operating margins, the analyst stated. Additionally, the company's 2016 free cash flow should come in nearly triple analysts' consensus 2016 estimate, said Nowinski, who set a $70 price target and Overweight rating on the shares. OTHERS TO WATCH: Other publicly traded IT security companies include Barracuda (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). PRICE ACTION: In morning trading, CyberArk was little changed at $51 per share.
August 31, 2015
16:10 EDTFTNTStephens to hold a tour
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August 24, 2015
14:21 EDTFTNTJMP Securities says pullback in Palo Alto a buying opportunity
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