Fly News Breaks for August 11, 2015
CUDA
Aug 11, 2015 | 05:44 EDT
Summit Research analyst Srini Nandury recommends using the recent pullback in shares of Barracuda Networks as an opportunity to build positions in the name. Nandury left recent meetings with management with "renewed confidence" that Barracuda's Q1 billings shortfall "is a symptom of growing pains that many growing companies of it size go through as they mature." Barracuda's business is still intact, the analyst tells investors in a research note. He reiterates a Buy rating on the stock with a $45 price target. The provider of security and storage solutions closed yesterday up $1.02 to $26.93.
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