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Stock Market & Financial Investment News

News Breaks
January 21, 2014
07:19 EDTPFPTProofpoint upgraded to Outperform from Neutral at Wedbush
Wedbush upgraded Proofpoint to reflect a change in investment stance to focus on customer acquisition opportunities and solid growth following recent high profile security breaches. Price target raised to $45 from $30.
News For PFPT From The Last 14 Days
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August 24, 2015
14:21 EDTPFPTJMP Securities says pullback in Palo Alto a buying opportunity
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August 18, 2015
09:51 EDTPFPTFireEye called top-tier security vendor in new upgrade
Shares of FireEye (FEYE) are getting a boost after Imperial Capital highlighted the company's "significant progress" when upgrading its rating on the name. California-based FireEye is a provider of cybersecurity solutions. UPGRADE: Imperial Capital analyst Michael Kim upgraded FireEye to Outperform from In-Line this morning in a note to investors, citing a favorable risk/reward at current share levels. The stock trades at the lower valuation end of similar high-growth security vendors, Kim tells investors in a research note. He believes FireEye is making "significant progress" on driving higher sales productivity and margin expansion. Ramping global adoption of the company's platform has made FireEye a top-tier security vendor, Kim argues. He raised his price target for shares to $55 from $45.50. NOT ALONE: Kim is not alone in recommending stocks in the cybersecurity space. Analysts at Piper Jaffray and Wells Fargo last week highlighted security names that they view as attractive investments. CyberArk Software (CYBR), Barracuda Networks (CUDA) and Fortinet (FTNT) were among the stocks recommended by the firms. Piper Jaffray analyst Andrew Nowinski said the recent pullback in the sector is an attractive buying opportunity. Stocks with the most attractive valuations include Barracuda, CyberArk, Fortinet and Palo Alto Networks (PANW), he told investors last week. Wells Fargo analyst Gray Powell last week upgraded Israel-based CyberArk to Outperform from Market Perform saying the company's billings growth as well as its sales and marketing efficiencies are "exceeding peers by a wide margin. HACKS CONTINUE: High-profile cyber attacks continue with the Internal Revenue Service yesterday raising the number of accounts that were compromised in a data breach earlier this year. In May, the IRS revealed that 114,000 tax accounts through its "Get Transcript" application were exposed to thieves. Yesterday, the agency said a recent review revealed approximately 220,000 additional tax accounts may have been breached, bringing the total number of victims up to 334,000. Shares of FireEye are up 56c to $44.21 in early trading. CyberArk is up 13c to $60.06 while Proofpoint (PFPT), a company focused on securing email communication, is up 16c to $65.06.
August 17, 2015
14:27 EDTPFPTIRS says cyber attack larger than originally thought, AP says
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August 14, 2015
07:59 EDTPFPTAnalysts recommend cybersecurity stocks after recent underperformance
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07:00 EDTPFPTSecurity stocks underperformed despite 'solid' results, says Piper Jaffray
Piper Jaffray analyst Andrew Nowinski says the security stocks he covers have underperformed the Nasdaq composite despite delivering "solid beat-and-raise" results. With the exception of Fortinet (FTNT) and Imperva (IMPV), the remaining security stocks within Nowinski's security coverage universe have all underperformed the Nasdaq. Symantec (SYMC) has underperformed by 0.7%, CyberArk by 1.6%, Proofpoint (PFPT) by 5.3%, Palo Alto by 7.4%, FireEye (FEYE) by 8.4% and Barracuda by 36.7%, Nowinski tells investors this morning in a research note. Investors remain concerned with the potential for a moderation in spending, the analyst believes. However, his channel checks with resellers suggest demand should remain strong for the next 12 months. Nowinski views the recent pullback in the sector as an attractive buying opportunity. Stocks with the most attractive valuations include Barracuda Networks (CUDA), CyberArk Software (CYBR), Fortinet (FTNT) and Palo Alto Networks (PANW), Nowinski writes. Wells Fargo this morning upgraded shares of CyberArk to Outperform.

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