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PFPT

Proofpoint

$71.02

-2.4 (-3.27%)

, FTNT

Fortinet

$34.09

-0.9 (-2.57%)

10:42
10/12/16
10/12
10:42
10/12/16
10:42

Proofpoint selloff brings good entry point, says Wedbush

Wedbush analyst Steve Koenig believes today's selloff in shares of Proofpoint (PFPT) presents a good entry opportunity. The analyst does not view Fortinet (FTNT), which last night preannounced weaker than expected results, as a bellwether for the network security space. Koenig adds Barracuda Networks (CUDA) last night attributed its earnings beat to traction with new cloud-based offerings. The analyst keeps an Outperform rating on Proofpoint.

PFPT

Proofpoint

$71.02

-2.4 (-3.27%)

FTNT

Fortinet

$34.09

-0.9 (-2.57%)

CUDA

Barracuda

$25.98

2.6549 (11.38%)

  • 20

    Oct

  • 27

    Oct

  • 14

    Nov

  • 12

    Dec

PFPT Proofpoint
$71.02

-2.4 (-3.27%)

07/25/16
IMPC
07/25/16
NO CHANGE
Target $69
IMPC
Outperform
Proofpoint guidance looks conservative, says Imperial Capital
Imperial Capital analyst Michael Kim thinks Proofpoint's initial FY17 revenue guidance appears conservative given the company's multiple growth drivers and his expectations for larger archiving transactions. The firm keeps an Outperform rating and $69 price target on Proofpoint shares.
07/26/16
IMPC
07/26/16
NO CHANGE
Target $83
IMPC
Outperform
Proofpoint price target raised to $83 from $69 at Imperial Capital
Imperial Capital analyst Michael Kim raised his price target for Proofpoint to $83 citing a higher outlook following the company's Q2 results. The analyst thinks management's initial FY17 revenue guidance appears relatively conservative and he keeps an Outperform rating on the name.
08/01/16
NEED
08/01/16
INITIATION
Target $88
NEED
Buy
Proofpoint initiated with a Buy at Needham
Target $88.
10/04/16
DADA
10/04/16
INITIATION
Target $80
DADA
Neutral
Proofpoint initiated with a Neutral at DA Davidson
DA Davidson analyst Kevin Reevey initiated Proofpoint with a Neutral and an $80 price target due to premium valuation.
FTNT Fortinet
$34.09

-0.9 (-2.57%)

10/12/16
10/12/16
DOWNGRADE
Target $32

Equal Weight
Fortinet downgraded to Equal Weight at Stephens
As previously reported, Stephens analyst Jonathan Ruykhaver downgraded Fortinet to Equal Weight from Overweight after the company announced "disappointing" preliminary Q3 results with an expected billings range of $343M-$348M versus consensus of $375M. The analyst believes that in addition to slower overall growth in the network security market, heightened competition is impacting sales growth. He also lowered his price target on the shares to $32 from $43.
10/12/16
SPHN
10/12/16
DOWNGRADE
SPHN
Equal Weight
Fortinet downgraded to Equal Weight from Overweight at Stephens
10/12/16
10/12/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Norfolk Southern (NSC) downgraded to Underperform from Market Perform at Avondale with Donald Broughton saying he continues to believe volumes will continue to decline, yields will continue to disappoint, cost savings will be increasingly harder to achieve, return on invested capital will continue to deteriorate, and the combination of those factors should result in fiscal 2017 earnings below fiscal 2016, pressuring valuation. 2. Fortinet (FTNT) downgraded to Equal Weight from Overweight at Stephens with analyst Jonathan Ruykhaver saying he believes that in addition to slower overall growth in the network security market, heightened competition is impacting sales growth. 3. Alcoa (AA) downgraded to Neutral from Buy at BofA/Merrill with analyst Timna Tanners saying she believes Alcoa's aerospace-focused downstream segment will continue to struggle with execution issues and delays over the next several quarters. 4. Emerson (EMR) downgraded to Sell from Neutral at UBS with analyst Shannon O'Callaghan saying analysts need to lower estimates to reflect Emerson's portfolio transformation, pension headwinds and end market pressures. 5. Nanometrics (NANO) downgraded to Sector Weight from Overweight at Pacific Crest with analyst Weston Twigg saying 3D NAND equipment demand is likely to peak in 2017. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/12/16
UBSW
10/12/16
NO CHANGE
Target $40
UBSW
Buy
Fortinet positive fundamentals remain unchanged, says UBS
UBS analyst Brent Thill noted Fortinet pre-announced negative earnings and attributed the miss to sales execution challenges in the U.S. Thill said his positive fundamental view on Fortinet's core technology remains unchanged and sees the company's problems as fixable. Thill maintained his Buy rating and lowered his price target to $40 from $42 on Fortinet shares.
CUDA Barracuda
$25.98

2.6549 (11.38%)

10/12/16
PIPR
10/12/16
UPGRADE
Target $32
PIPR
Overweight
Barracuda upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Andrew Nowinski upgraded Barracuda Networks to Overweight saying the company reported "another strong quarter." Its transition to a subscription-based cloud portfolio is nearly complete, Nowinski tells investors in a research note. He expects Barracuda's billings growth to accelerate in the second half of FY17 and upped his price target for the shares to $32 from $18.
10/12/16
SPHN
10/12/16
NO CHANGE
Target $24
SPHN
Equal Weight
Barracuda price target raised to $24 from $18 at Stephens
Stephens analyst Jonathan Ruykhaver raised his price target for Barracuda to $24 from $18 after the company reported Q2 results that "meaningfully" beat on revenue, earnings, and gross billings. The analyst reiterates an Equal Weight rating on the stock.
10/12/16
10/12/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Apple (AAPL) upgraded to Positive from Negative at OTR Global with the firm saying its checks indicate iPhone 7 launch orders are above last year's model launch, with fourth quarter order gains and stable inventories. 2. Procter & Gamble (PG) upgraded to Buy from Hold at Argus with analyst John Staszak citing the company's plans to accelerate Research & Development and advertising spending, as well as recent positive earnings surprises. 3. Barracuda (CUDA) upgraded to Overweight from Neutral at Piper Jaffray with analyst Andrew Nowinski saying the company reported "another strong quarter" and its transition to a subscription-based cloud portfolio is nearly complete. 4. AMD (AMD) upgraded to Neutral from Underperform at Credit Suisse with analyst John Pitzer saying near-term momentum will continue to offset longer-term concerns around lack of scale. 5. Motorola Solutions (MSI) upgraded to Outperform from Market Perform at BMO Capital with analyst Tim Long saying he expects organic revenue growth to return later this year and sees the company's investment in smart public safety software to help expansion beyond hardware. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/12/16
STFL
10/12/16
NO CHANGE
Target $32
STFL
Buy
Barracuda price target raised to $32 from $26 at Stifel
Stifel analyst Gur Talpaz raised Barracuda's price target to $32 from $26 following the Q2 beat and raised FY17 guidance. The analyst said Barracuda had meaningful traction in core products and continues to achieve with its email security and public cloud solutions with both new and existing customers. Additionally, the initial demand for the company's core product line not only translates to growth in core billings but in core subscription ARR, which increased 50% year-over-year to $146mn during the period, the analyst wrote. Talpaz believes the growth opportunity for Barracuda's email security and public cloud solutions to be large and reiterates his Buy rating.

TODAY'S FREE FLY STORIES

AUDC

AudioCodes

$6.62

0.11 (1.69%)

05:51
04/26/17
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CREE

Cree

$24.82

0.07 (0.28%)

05:51
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BIG

Big Lots

$49.57

-0.36 (-0.72%)

05:49
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05:49
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APTI

Apptio

$12.80

0.09 (0.71%)

05:48
04/26/17
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Apptio rating change  »

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NORD

Nord Anglia

$32.82

5.2 (18.83%)

05:46
04/26/17
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05:46
Downgrade
Nord Anglia rating change  »

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AKS

AK Steel

$6.40

-0.72 (-10.11%)

05:44
04/26/17
04/26
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Recommendations
AK Steel analyst commentary  »

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CMG

Chipotle

$471.76

2.97 (0.63%)

05:43
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05:43
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Chipotle rating change  »

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SHOP

Shopify

$76.65

0.82 (1.08%)

05:43
04/26/17
04/26
05:43
04/26/17
05:43
Downgrade
Shopify rating change  »

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ALGT

Allegiant Travel

$163.85

-1.2 (-0.73%)

05:40
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Allegiant Travel rating change  »

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DYN

Dynegy

$6.19

-0.11 (-1.75%)

05:37
04/26/17
04/26
05:37
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05:37
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Dynegy rating change  »

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  • 05

    May

RSPP

RSP Permian

$38.69

1.32 (3.53%)

05:33
04/26/17
04/26
05:33
04/26/17
05:33
Initiation
RSP Permian initiated  »

RSP Permian reinstated…

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  • 03

    May

CPE

Callon Petroleum

$12.24

0.39 (3.29%)

05:32
04/26/17
04/26
05:32
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05:32
Initiation
Callon Petroleum initiated  »

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  • 03

    May

LOGI

Logitech

$31.79

0.99 (3.21%)

05:32
04/26/17
04/26
05:32
04/26/17
05:32
Earnings
Logitech backs FY18 outlook of high single-digit retail sales growth »

Logitech confirmed its…

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  • 26

    Apr

FSNN

Fusion Telecommunications

$1.43

0.01 (0.70%)

05:31
04/26/17
04/26
05:31
04/26/17
05:31
Initiation
Fusion Telecommunications initiated  »

Fusion Telecommunications…

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  • 30

    May

LOGI

Logitech

$31.79

0.99 (3.21%)

05:30
04/26/17
04/26
05:30
04/26/17
05:30
Earnings
Logitech reports Q4 EPS 15c, consensus 17c »

Reports Q4 revenue $496M,…

03/08/13
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  • 26

    Apr

SKYAY

Sky

$50.26

0.05 (0.10%)

05:29
04/26/17
04/26
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05:29
Upgrade
Sky rating change  »

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WFC

Wells Fargo

$54.56

0.91 (1.70%)

05:26
04/26/17
04/26
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05:26
Hot Stocks
Wells Fargo issues statement in response to CA State Treasurer John Chiang »

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KLRE

KLR Energy Acquisition

$10.55

0.1384 (1.33%)

04:55
04/26/17
04/26
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04:55
Conference/Events
KLR Energy Acquisition to host special shareholder meeting »

Special Shareholder…

03/08/13
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  • 26

    Apr

IONS

Ionis Pharmaceuticals

$47.88

2.14 (4.68%)

04:55
04/26/17
04/26
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Conference/Events
Ionis Pharmaceuticals management to meet with Needham »

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  • 26

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ADMS

Adamas Pharmaceuticals

$16.36

0.51 (3.22%)

, AVXS

AveXis

$78.74

-0.44 (-0.56%)

04:55
04/26/17
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Conference/Events
American Academy of Neurology »

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ADMS

Adamas Pharmaceuticals

$16.36

0.51 (3.22%)

AVXS

AveXis

$78.74

-0.44 (-0.56%)

CATB

Catabasis Pharmaceuticals

$1.48

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MNOV

MediciNova

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0.14 (2.58%)

IONS

Ionis Pharmaceuticals

$47.88

2.14 (4.68%)

FLKS

Flex Pharma

$3.07

0.01 (0.33%)

TGTX

TG Therapeutics

$12.00

1.6 (15.38%)

03/08/13
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  • 26

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    Aug

ATEC

Alphatec

$1.98

0.02 (1.02%)

, CAE

CAE

$15.39

0.01 (0.07%)

04:55
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Conference/Events
American Association of Neurological Surgeons to hold annual meeting »

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ATEC

Alphatec

$1.98

0.02 (1.02%)

CAE

CAE

$15.39

0.01 (0.07%)

EDGE

Edge Therapeutics

$10.72

1.07 (11.09%)

MDT

Medtronic

$81.76

1.11 (1.38%)

NUVA

NuVasive

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SYK

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VRTX

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SYNA

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NVIV

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$4.00

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LMAT

LeMaitre

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MZOR

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OFIX

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$39.28

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SSNLF

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SIEGY

Siemens

$72.70

0.615 (0.85%)

SNE

Sony

$33.65

-0.17 (-0.50%)

03/08/13
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03/06/13
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  • 26

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  • 06

    Jun

ABUS

Arbutus Biopharma

$3.35

0.05 (1.52%)

04:55
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Conference/Events
Arbutus Biopharma management to meet with William Blair »

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  • 26

    Apr

SXL

Sunoco Logistics

$24.35

0.64 (2.70%)

, ETP

Energy Transfer Partners

$36.42

0.98 (2.77%)

04:55
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Energy Transfer Partners to host special shareholder meeting »

Special Shareholder…

SXL

Sunoco Logistics

$24.35

0.64 (2.70%)

ETP

Energy Transfer Partners

$36.42

0.98 (2.77%)

03/08/13
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  • 26

    Apr

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TIG

TiGenix

$16.36

0.08 (0.49%)

04:55
04/26/17
04/26
04:55
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04:55
Conference/Events
TiGenix management to meet with Canaccord »

Meetings to be held in…

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  • 26

    Apr

  • 27

    Apr

MTSI

MACOM

$53.84

-0.17 (-0.31%)

, SBGI

Sinclair Broadcast

$39.30

-0.15 (-0.38%)

04:55
04/26/17
04/26
04:55
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04:55
Conference/Events
National Association of Broadcasters to hold a conference »

NAB Show 2017 is being…

MTSI

MACOM

$53.84

-0.17 (-0.31%)

SBGI

Sinclair Broadcast

$39.30

-0.15 (-0.38%)

NXST

Nexstar

$68.90

0.3 (0.44%)

TRCO

Tribune Media

$36.55

-0.08 (-0.22%)

03/08/13
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03/06/13
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03/06/13
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