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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

NBR

Nabors Industries

$17.50

0.445 (2.61%)

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General news
Treasury Futures Action: a large block purchase of Ultra bonds »

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ABMD

Abiomed

$108.87

1.48 (1.38%)

11:26
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Abiomed management to meet with Stephens »

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  • 06

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DISCA

Discovery

$26.60

-0.55 (-2.03%)

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Breaking Hot Stocks news story on Discovery »

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  • 05

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SUM

Summit Materials

$23.46

0.2 (0.86%)

11:20
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Conference/Events
Summit Materials management to meet with Stephens »

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  • 19

    Dec

P

Pandora

$13.59

0.255 (1.91%)

11:20
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Options
Bullish option play opened in Pandora »

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DISCA

Discovery

$26.60

-0.55 (-2.03%)

, T

AT&T

$38.75

0.14 (0.36%)

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Discovery CEO says 'well positioned' to take product direct to consumer in 2017 »

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DISCA

Discovery

$26.60

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T

AT&T

$38.75

0.14 (0.36%)

TWX

Time Warner

$93.84

0.04 (0.04%)

03/08/13
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  • 05

    Dec

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    Dec

  • 07

    Dec

SCG

SCANA

$70.63

-0.29 (-0.41%)

11:18
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SCANA, Westinghouse receive order from DRB about construction milestone payment »

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BGNE

BeiGene

$30.86

0.06 (0.19%)

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BeiGene: BGB-3111 'highly active' in CLL/SLL, well tolerated in Phase 1 study »

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  • 05

    Dec

NKE

Nike

$51.77

1.31 (2.60%)

11:16
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Technical Analysis
Nike moves to monthly highs, levels to watch »

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  • 20

    Dec

TGTX

TG Therapeutics

$5.50

0.05 (0.92%)

11:16
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TG Therapeutics announces oral data presentation for TGR-1202 at ASH »

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  • 05

    Dec

$NYE

NYSE Market Internals

11:16
12/05/16
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Technical Analysis
NYSE market internals summary »

Breadth is bullish across…

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$NSD

NASDAQ Market Internals

11:16
12/05/16
12/05
11:16
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Technical Analysis
NASDAQ market internals summary »

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NYT

New York Times

$13.00

0.2 (1.56%)

11:15
12/05/16
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Periodicals
New York Times sees more-than-tenfold increase in daily subs, Politico reports »

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  • 05

    Dec

11:15
12/05/16
12/05
11:15
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11:15
General news
Breaking General news story  »

6-Month Bill Auction to…

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General news
Breaking General news story  »

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GWPH

GW Pharmaceuticals

$112.32

3.04 (2.78%)

11:14
12/05/16
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Recommendations
GW Pharmaceuticals analyst commentary  »

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  • 05

    Dec

ORA

Ormat Technologies

$47.50

0.17 (0.36%)

11:14
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Conference/Events
Ormat Technologies management to meet with Oppenheimer »

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  • 12

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FGP

Ferrellgas Partners LP

$6.20

0.55 (9.73%)

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Upgrade
Ferrellgas Partners LP rating change  »

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  • 09

    Dec

ULTA

Ulta Beauty

$253.39

-4.02 (-1.56%)

11:12
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Conference/Events
Ulta Beauty management to meet with Oppenheimer »

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  • 07

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RSX

Market Vectors Russia ETF

$20.25

0.41 (2.07%)

11:10
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Options
Bullish option action in the VanEck Vectors Russia Fund »

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11:10
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General news
Treasury announced a $45 B 4-week bill sale for Tuesday »

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CDK

CDK Global

$56.91

-0.24 (-0.42%)

11:07
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Conference/Events
CDK Global management to meet with Oppenheimer »

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  • 07

    Dec

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General news
More from Evans: analysts're on cusp of period of rising rates »

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KEYS

Keysight Technologies

$36.04

0.69 (1.95%)

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Keysight, UCSD collaborate to prove 5G viability »

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  • 07

    Dec

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