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Fly News Breaks for October 12, 2016
CUDA
Oct 12, 2016 | 14:44 EDT
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.
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