Barracuda Networks Is In Too Many Markets
Mon, Jun. 6, 3:00 PM
Mon, Jun. 6, 12:48 PM
Wed, Apr. 27, 12:46 PM
Tue, Apr. 26, 5:40 PM
Tue, Apr. 26, 4:09 PM
Mon, Apr. 25, 5:35 PM
- AAPL, AFL, AIZ, AKAM, ARAY, ARI, ASH, AXS, BEAT, BLDP, BRX, BWLD, BXMT, BXP, BYD, CHRW, CINF, CLMS, CMG, COF, CREE, CRUS, CUDA, CVA, EBAY, EEFT, EQR, EW, EXAC, FE, FOE, FSP, FTI, FTNT, HAWK, HIW, HLS, HUBG, IRBT, ISIL, JBSS, JBT, KLAC, MKTO, MRCY, MTSI, MWA, NANO, NCR, NUVA, O, PEI, PNRA, PSA, PSB, RHI, RMD, RNR, SKT, SLCA, T, TEX, TMK, TSS, TWTR, TX, ULTI, VNTV, WNC, WRB, X, ZIXI
Fri, Mar. 18, 9:50 AM
- BTIG's Joel Fishbein has upgraded Barracuda Networks (CUDA +3.5%) to Buy, and set a $20 target.
- Barracuda, hammered in 2015 and again in January by bad earnings news, has risen sharply from a low of $9.44 (set on Jan. 20), but remains down over 65% from a 52-week high of $46.78 (set last April). Bloomberg reported in early February the security/storage appliance vendor is exploring a sale.
Mon, Feb. 8, 2:37 PM
- Many tech stocks are seeing 6%+ losses as investors flee to safety yet again. The Nasdaq is down 3.4%, and the S&P 2.7%.
- As was the case on Friday following Tableau and LinkedIn's disappointing guidance, a slew of enterprise tech stocks are seeing big losses, with cloud software and security tech names well-represented on the casualty list.
- Also: Solar stocks are having another brutal day (TAN -6.7%) as energy stocks get routed amid fears Chesapeake Energy is close to bankruptcy. WTI crude oil is once more near $30/barrel.
- Enterprise software decliners: Adobe (ADBE -9.6%), Paylocity (PCTY -19.1%), Salesforce (CRM -9.9%), Workday (WDAY -12%), Guidewire (GWRE -12.5%), ServiceNow (NOW -11.5%), Zendesk (ZEN -13.8%), Paycom (PAYC -13.4%), Marin Software (MRIN -10.3%), Castlight (CSLT -8.4%), Cornerstone OnDemand (CSOD -12.1%), Atlassian (TEAM -13.2%), inContact (SAAS -9.6%), and Bazaarvoice (BV -14.5%).
- Enterprise security decliners: Palo Alto Networks (PANW -12.2%), FireEye (FEYE -9.8%), CyberArk (CYBR -11.5%), Proofpoint (PFPT -12.7%), Qualys (QLYS -8.9%), Imperva (IMPV -9.7%), Rapid7 (RPD -9.4%), and Barracuda (CUDA -8.4%).
- Solar decliners: SunEdison (SUNE -11.3%), SunPower (SPWR -8.8%), JinkoSolar (JKS -7.6%), SolarEdge (SEDG -7.9%), Yingli (YGE -7.1%), TerraForm Power (TERP -10.7%), and TerraForm Global (GLBL -9.2%).
- Other major decliners: Micron (MU -9.1%), Western Digital (WDC -10.5%), Arista (ANET -10.9%), Universal Display (OLED -10.6%), Rackspace (RAX -11.3%), Fitbit (FIT -8.7%), Nimble Storage (NMBL -11.3%), Sierra Wireless (SWIR -9.9%), Rocket Fuel (FUEL -9.8%), Knowles (KN -9%), Mitel (MITL -8.9%), and Alarm.com (ALRM -8.9%).
- Previously covered: Yelp, Cognizant, Tableau, Globant, Ambarella, European tech stocks
Mon, Feb. 1, 2:39 PM
- Bloomberg reports Barracuda Networks (NYSE:CUDA) is working with Morgan Stanley to find potential buyers. Shares have shot higher in response.
- The report comes less than a month after the security/storage appliance vendor plunged in the wake of an FQ3 miss and weak FQ4 guidance. Barracuda went into trading today 41% below its $18 2013 IPO price.
Wed, Jan. 20, 10:15 AM
- Guggenheim Securities has downgraded Barracuda Networks (NYSE:CUDA) to Neutral. Like many other tech names, Barracuda is making new 52-week lows today; the Nasdaq is off 2.3%.
- The security/storage appliance vendor's shares nosedived two weeks ago following an FQ3 miss, a weak billings print, and light FQ4 guidance. They now trade for just over 1x an FY17 (ends Feb. '17) sales consensus of $347M after backing out net cash.
Fri, Jan. 8, 12:49 PM
Fri, Jan. 8, 9:17 AM
Thu, Jan. 7, 5:38 PM
Thu, Jan. 7, 4:22 PM
- Barracuda Networks (NYSE:CUDA): FQ3 EPS of $0.07 misses by $0.01.
- Revenue of $80.1M (+13.8% Y/Y) misses by $0.19M.
Wed, Jan. 6, 5:35 PM
Nov. 5, 2015, 12:47 PM
- Fortinet (FTNT -4.2%), Barracuda (CUDA -3.9%), Vasco (VDSI -1.9%), Proofpoint (PFPT -4.6%), and KEYW (KEYW -6.3%) have joined the ranks of enterprise security tech firms selling off in the wake of FireEye's Q3 revenue/billings miss, soft Q4 sales guidance, and full-year billings guidance cut.
- Other decliners include Palo Alto Networks, CyberArk, and Rapid7. FireEye itself is down 23%.
- Also: PC/mobile security software firm AVG is down 17.7% after missing Q3 estimates and providing light Q4 guidance. Symantec is up slightly following an FQ2 EPS beat.
- The PureFunds ISE Cyber Security ETF (HACK -3.1%) has fallen below $27. CyberArk reports after the bell.
- Update: FBR's Daniel Ives is defending the group. "Importantly, we note that nearly every major cybersecurity player (Check Point, Imperva, Proofpoint, Palo Alto, Fortinet) recently has delivered strong results across the board with a healthy outlook ... We continue to strongly believe that FireEye's issues are much more company-specific as DeWalt & Co. are dealing with a plethora of execution/product headaches in the field, which are major overhangs on the FireEye story heading into 2016. We continue to see white-hot cybersecurity spending, which we view as a 30%+ growth area in a 2%–3% overall IT landscape as the threat landscape escalates. We would be strong buyers of the cybersecurity basket, with PANW, PFPT, and CHKP front and center."
Barracuda Networks, Inc. engages in the business of designing and delivering security and storage solutions. The company offers cloud-connected solutions that help its customers address security threats, improve network performance and protect and store their data. Its solutions are designed to... More
Industry: Communication Equipment
Country: United States
Other News & PR