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Conference/Events
FBN Securities network security analyst to hold analyst/industry conference call » 11:40
03/31/20
03/31
11:40
03/31/20
11:40
PANW

Palo Alto Networks

$165.07 /

-2.01 (-1.20%)

, ZS

Zscaler

$61.37 /

+2.5 (+4.25%)

, FTNT

Fortinet

$102.50 /

+1.7 (+1.69%)

, CHKP

Check Point

$100.08 /

+0.89 (+0.90%)

, FEYE

FireEye

$10.87 /

+0.01 (+0.09%)

, PFPT

Proofpoint

$105.80 /

-2.14 (-1.98%)

, OKTA

Okta

$126.30 /

+1.35 (+1.08%)

, CSCO

Cisco

$40.03 /

-0.25 (-0.62%)

, PSTG

Pure Storage

$12.68 /

+0.27 (+2.18%)

, NTNX

Nutanix

$16.42 /

+0.44 (+2.75%)

, NTAP

NetApp

$40.45 /

-0.28 (-0.69%)

, VMW

VMware

$121.99 /

+1.44 (+1.19%)

, CTXS

Citrix

$145.43 /

-0.53 (-0.36%)

Analysts, along with Jim…

Analysts, along with Jim Gruzlewski, a professional in the network security industry, discuss security solutions and the challenges across all vertical markets in the North American IT Channel Industry on an Analyst/Industry conference call to be held on April 7 at 12 pm.

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Initiation
Proofpoint assumed with a Buy at BTIG » 05:45
03/27/20
03/27
05:45
03/27/20
05:45
PFPT

Proofpoint

$101.76 /

+1.94 (+1.94%)

BTIG analyst Gray Powell…

BTIG analyst Gray Powell assumed coverage of Proofpoint with a Buy rating and $125 price target. The analyst likes the company as a "GARP play" and believes its growth trends have stabilized into the high teens after decelerating in 2018 and 2019.

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Initiation
Goldman Sachs starts Rapid7, Tenable Holdings at Buy, SailPoint at Sell » 17:33
03/24/20
03/24
17:33
03/24/20
17:33
RPD

Rapid7

$41.75 /

+3.68 (+9.67%)

, TENB

Tenable Holdings

$20.12 /

+1.41 (+7.54%)

, SAIL

SailPoint

$17.22 /

+1.87 (+12.18%)

, CYBR

CyberArk

$87.11 /

+10.26 (+13.35%)

, MIME

Mimecast

$34.02 /

+2.13 (+6.68%)

, PFPT

Proofpoint

$105.12 /

+5.325 (+5.34%)

, QLYS

Qualys

$81.36 /

+2.96 (+3.78%)

Goldman Sachs analyst…

Goldman Sachs analyst Brian Essex initiated coverage of Rapid7 (RPD) and Tenable Holdings (TENB) with a Buy rating while also starting SailPoint (SAIL) at Sell as part of his broader research note on Security Software. The analyst is positive on Rapid7's attractive profile after its 2019 revenue grew 34% and with its operating margins expanding by an average of 750bps over the past four years. Essex also sees Tenable as one of the fastest growing companies in his coverage with FY19 revenue growth of over 30%, which is "in line or faster" than its peers in the VA/VM market. The analyst notes that SailPoint is a front-runner in the Identity Governance and Administration market, but it has experienced a deceleration in growth with upcoming headwinds due to a mix shift to greater levels of SaaS revenue. As part of the note, Essex also starts Mimecast (MIME) at Neutral, balancing its ability to improve operating margins with elevated risk from the company's installed base concentration in SMBs. The analyst starts Proofpoint (PFPT) with a Neutral despite its position to benefit from enterprise migration to the cloud given its current valuation. Essex is also Neutral on CyberArk (CYBE) given its expected FY20 margin contraction and on Qualys (QLYS) due to top-line pressure related to competition from other VM vendors.

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Initiation
Proofpoint initiated with a Neutral at Goldman Sachs » 17:15
03/24/20
03/24
17:15
03/24/20
17:15
PFPT

Proofpoint

$105.12 /

+5.325 (+5.34%)

Goldman Sachs analyst…

Goldman Sachs analyst Brian Essex initiated coverage of Proofpoint with a Neutral rating and $111 price target.

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Options
FireEye call volume above normal and directionally bullish » 15:45
03/24/20
03/24
15:45
03/24/20
15:45
FEYE

FireEye

$10.80 /

+0.88 (+8.87%)

Bullish option flow…

Bullish option flow detected in FireEye with 19,371 calls trading, 1.7x expected, and implied vol increasing over 113 points to 113.30%. Apr-20 14 calls and Apr-20 10.5 calls are the most active options, with total volume in those strikes near 8,200 contracts. The Put/Call Ratio is 0.06. Earnings are expected on April 28th.

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Periodicals
HHS suffers cyber-attack amid COVID-19 outbreak, Bloomberg reports » 12:38
03/16/20
03/16
12:38
03/16/20
12:38
CHKP

Check Point

$93.87 /

+0.4 (+0.43%)

, FFIV

F5 Networks

$98.66 /

-6.92 (-6.55%)

, IMPV

Imperva

$0.00 /

+ (+0.00%)

, FTNT

Fortinet

$81.31 /

-1.16 (-1.41%)

, PFPT

Proofpoint

$99.88 /

+2.58 (+2.65%)

, PANW

Palo Alto Networks

$139.26 /

-12.02 (-7.95%)

, QLYS

Qualys

$67.01 /

-2.19 (-3.16%)

, FEYE

FireEye

$9.13 /

-0.885 (-8.84%)

, CUDA

Barracuda

$0.00 /

+ (+0.00%)

, NLOK

NortonLifeLock

$16.68 /

-0.75 (-4.30%)

The U.S. Health and Human…

The U.S. Health and Human Services Department, or HHS, suffered a cyber-attack on Sunday night that appears to have been intended to slow the agency's systems down, although it didn't do so in any meaningful way, three people familiar with the matter told Bloomberg News' Shira Stein and Jennifer Jacobs. While the hack did not slow systems, the National Security Council tweeted that "Text message rumors of a national #quarantine are FAKE. There is no national lockdown. @CDCgov has and will continue to post the latest guidance on #COVID19," the report noted. Publicly traded companies in the cybersecurity space include Barracuda (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), NortonLifeLock (NLOK), Palo Alto Networks (PANW), Proofpoint (PFPT) and Qualys (QLYS). Reference Link

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Over a month ago
Upgrade
Fly Intel: Top five analyst upgrades » 10:07
03/05/20
03/05
10:07
03/05/20
10:07
FEYE

FireEye

$14.03 /

+0.14 (+1.01%)

, BTI

British American Tobacco

$41.71 /

-0.355 (-0.84%)

, NVCR

Novocure

$73.25 /

-0.32 (-0.43%)

, SNAP

Snap

$13.79 /

+0.16 (+1.17%)

, DLTR

Dollar Tree

$78.11 /

-0.73 (-0.93%)

Catch up on today's…

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. FireEye (FEYE) upgraded to Buy from Neutral at Goldman Sachs with analyst Brian Essex saying the recent decline in FireEye shares have been more pronounced than the average move across the sector and he sees potential upside of 33% in the shares. 2. British American Tobacco (BTI) upgraded to Outperform from Market Perform at Bernstein with analyst Callum Elliott stating that in the eleven months since CEO Jack Bowles took over the business, the speed of change has been "impressive". 3. Novocure (NVCR) upgraded to Overweight from Equal Weight at Wells Fargo with analyst Lawrence Biegelsen saying the stock's current valuation is attractive and appears to "deeply discount" the company's pipeline opportunities. 4. Snap (SNAP) upgraded to Buy from Neutral at MKM Partners with analyst Rohit Kulkarni noting that the 30% decline in the stock price has created an attractive buying opportunity with "asymmetric risk/reward" given that the company has "very limited" fundamental exposure to the coronavirus. 5. Dollar Tree (DLTR) upgraded to Buy from Hold at Deutsche Bank with analyst Paul Trussell saying the company's Q4 results represented the bottom as it relates to sales and margins, with Q1 potentially being the last period of operating income compression as tariff, freight, and mix pressures turn to tailwinds in the second half of the year. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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On The Fly
Fly Intel: FireEye upgrade, J&J initiation among today's Wall Street top calls » 09:53
03/05/20
03/05
09:53
03/05/20
09:53
FEYE

FireEye

$14.30 /

+0.41 (+2.95%)

, JNJ

Johnson & Johnson

$140.71 /

-2.79 (-1.94%)

, SNAP

Snap

$13.62 /

-0.01 (-0.07%)

, FB

Facebook

$188.34 /

-3.44 (-1.79%)

, MRNA

Moderna

$27.50 /

+0.03 (+0.11%)

, SPLK

Splunk

$147.19 /

-7.99 (-5.15%)

, ADBE

Adobe

$357.43 /

-6.4 (-1.76%)

, ADSK

Autodesk

$188.18 /

-3.44 (-1.80%)

, INTU

Intuit

$281.27 /

-4.39 (-1.54%)

Check out today's top…

Open Full Text

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Upgrade
Goldman upgrades FireEye to Buy, sees 33% upside in the shares » 06:22
03/05/20
03/05
06:22
03/05/20
06:22
FEYE

FireEye

$13.89 /

+0.9 (+6.93%)

Goldman Sachs analyst…

Goldman Sachs analyst Brian Essex upgraded FireEye to Buy from Neutral with an unchanged price target of $18. The stock closed Wednesday up 89c to $13.89. The recent decline in FireEye shares have been more pronounced than the average move across the sector, Essex tells investors in a research note. The analyst says conversations at the RSA Conference were "constructive" regarding FireEye, given him greater confidence that the company is "headed in the right direction for improvement." He sees potential upside of 33% in the shares.

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Upgrade
FireEye upgraded to Buy from Neutral at Goldman Sachs » 06:16
03/05/20
03/05
06:16
03/05/20
06:16
FEYE

FireEye

$13.89 /

+0.9 (+6.93%)

Goldman Sachs analyst…

Goldman Sachs analyst Brian Essex upgraded FireEye to Buy from Neutral with an $18 price target.

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