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Fly News Breaks for September 30, 2015
CUDA
Sep 30, 2015 | 06:40 EDT
JPMorgan analyst Sterling Auty says shares of Barracuda Networks are "too cheap to ignore" following last night's post-earnings selloff. At $18-$19 per share, the stock is trading under 10 times Auty's FY18 cash flow estimates. The company, however, missed for the second quarter in a row billings estimates, the analyst tells investors. He cut his price target for the stock to $30 from $42 and keeps an Overweight rating on the name. Piper Jaffray and Macquarie this morning downgraded Barracuda to Neutral following its Q2 earnings report.
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