Barracuda Networks Is In Too Many Markets
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.
Jan. 3, 2014, 10:39 AM
- Several security hardware and software vendors are trading higher in response to FireEye's $1B+ acquisition of cybersecurity software/services firm Mandiant, and perhaps also FireEye's Q4 guidance hike. The acquisition, which comes six months after Cisco agreed to buy top intrustion prevention system vendor Sourcefire for $2.7B, is fueling hopes the industry will see additional M&A.
- KEYW (KEYW +9.9%), a cybersecurity software/services provider for defense and security agencies, is the biggest gainer. Other winners include Palo Alto Networks (PANW +3.6%), Barracuda (CUDA +3.2%), Imperva (IMPV +2.4%), Proofpoint (PFPT +5.3%), and Qualys (QLYS +2.3%).
Barracuda Networks, Inc. engages in the development and provision of security systems and data protection solutions. It offers cloud-connected applications and solutions for security threats, network performance, and data storage. The company was founded by Dean M. Drako, Michael D. Perone and... More
Industry: Communication Equipment
Country: United States