BTIG Lifts PT on Barracuda Networks (CUDA) to $28; Still Sees Plenty of Near-Term Drivers
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BTIG lifts its price target on Buy-rated Barracuda Networks (NYSE: CUDA) from $26 to $28 following Q2 results issued Tuesday night.
Analyst Joel Fishbein commented:
Billings and revenue beat slightly, suggesting improving momentum in the core business, while the EPS beat (partially aided by one-time items) highlights the re-emerging leverage in the subscription model. The company talked down the notion of sustained bottom-line outperformance for the rest of the year (the top-end of the FY17 EPS guidance range increased by the same amount as the beat). However, we still see plenty of near-term drivers to push margins, EPS and the stock higher.
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