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Fly News Breaks for January 8, 2016
CUDA
Jan 8, 2016 | 06:03 EDT
JPMorgan analyst Sterling Auty cut his price target for Barracuda Networks to $19 saying last night's results marked the third consecutive quarter of weak results. The company's gross billings were impacted by its shift to subscription as well as regional weakness in Europe. Auty tells investors in a post-earnings research note. He believes, however, that Barracuda is appropriately refocusing investments on higher-growth product lines and keeps an Overweight rating on the name.
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