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CUDA

Barracuda

$26.39

3.06 (13.12%)

11:30
10/12/16
10/12
11:30
10/12/16
11:30

Heavy trading in Barracuda Networks as shares rally on earnings

Heavy trading in Barracuda Networks as shares rally on earnings. The stock is up $2.91 to $26.24 on 30X normal volume of 3.9M shares and Oct 30 calls are the most active options in the name, with multi exchange sweeps of small lots printed across the exchanges for 20c per contract. 4.8K traded at that strike and the bullish flow opens positions struck 14.3% above spot, expiring at the end of next week. Oct 25 and Nov 30 calls are also drawing interest. Total volume is almost 20X average daily at 7.2K calls and 1K puts.

CUDA Barracuda
$26.39

3.06 (13.12%)

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.
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
WEDB
10/12/16
NO CHANGE
WEDB
Outperform
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.

TODAY'S FREE FLY STORIES

PTLA

Portola Pharmaceuticals

$38.25

-1.24 (-3.14%)

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CHGG

Chegg

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0.48 (4.01%)

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VRX

Valeant

$15.58

0.0801 (0.52%)

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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CLLS

Cellectis

$23.15

0.25 (1.09%)

13:15
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Breaking Hot Stocks news story on Cellectis 

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INFY

Infosys

$14.90

0.13 (0.88%)

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Infosys says 'committed no wrongdoing, denies all allegations' in NY tax matter »

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CLLS

Cellectis

$23.15

0.25 (1.09%)

13:08
06/23/17
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  • 26

    Sep

PTLA

Portola Pharmaceuticals

$38.25

-1.24 (-3.14%)

13:06
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  • 23

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TRIP

TripAdvisor

$35.74

-0.08 (-0.22%)

13:05
06/23/17
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Options
TripAdvisor call volume above normal and directionally bullish »

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13:05
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Cleveland Fed hawk Mester didn't discuss policy »

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BHI

Baker Hughes

$54.55

0.025 (0.05%)

13:03
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Baker Hughes reports U.S. rig count up 8 to 941 rigs »

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13:00
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Treasury Action: upcoming supply should put a floor under short rates »

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RIO

Rio Tinto

$39.32

0.61 (1.58%)

, GLNCY

Glencore

$7.10

0.05 (0.71%)

12:59
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Rio Tinto to give new Glencore C&A proposal 'appropriate consideration' »

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RIO

Rio Tinto

$39.32

0.61 (1.58%)

GLNCY

Glencore

$7.10

0.05 (0.71%)

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CLLS

Cellectis

$23.15

0.25 (1.09%)

12:56
06/23/17
06/23
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Hot Stocks
Cellectis announces Calyxt filing of registration statement for proposed IPO »

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  • 26

    Sep

PX

Praxair

$133.62

1.15 (0.87%)

12:50
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Options
Call spread in Praxair may add to existing bullish position »

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SYT

Syngenta

$92.65

0.05 (0.05%)

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Periodicals
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MT

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EFA

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PTLA

Portola Pharmaceuticals

$38.25

-1.24 (-3.14%)

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Portola FDA label cites secondary endpoint instead of Cohort 1 data, tweet says »

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  • 23

    Jun

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VIX

Volatility Index S&P 500 Options

12:30
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Options
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CZR

Caesars

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, CACQ

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CZR

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GLYC

GlycoMimetics

$12.10

-0.03 (-0.25%)

12:28
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