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CUDA

Barracuda

$25.40

2.07 (8.87%)

14:44
10/12/16
10/12
14:44
10/12/16
14:44

Imperial keeps Underperform rating, $20 target on Barracuda after earnings beat

Imperial Capital analyst Michael Kim said that despite Barracuda Networks' Q2 results topping his estimates and the consensus view, he maintains an Underperform rating and $20 price target on the shares, as he believes appliance revenue will keep declining as customers migrate to cloud infrastructure and virtual solutions. In addition to headwinds to hardware appliance sales and attached subscriptions, Kim expects more competition from a broader set of security vendors for public cloud opportunities.

CUDA Barracuda
$25.40

2.07 (8.87%)

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.

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CSCO

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PCLN

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ROYT

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ACAT

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PCLN

Priceline

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PCLN

Priceline

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VTVT

vTv Therapeutics

$6.14

0.45 (7.91%)

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AAC

AAC Holdings

$7.59

0.01 (0.13%)

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CSX

CSX

$48.71

0.23 (0.47%)

18:54
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AWK

American Water

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AAC

AAC Holdings

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MORN

Morningstar

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NOC

Northrop Grumman

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AAC

AAC Holdings

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MS

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MS

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MS

Morgan Stanley

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OLN

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WHLR

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AHT

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AHT

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WHLR

Wheeler REIT

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VTVT

vTv Therapeutics

$6.14

0.45 (7.91%)

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DKL

Delek Logistics

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