Imperial Capital Upgrades Guidance Software (GUID) to Outperform
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Imperial Capital upgraded Guidance Software (NASDAQ: GUID) from In-Line to Outperform with a price target of $7.00 (from $5.75).
Analyst Michael Kim commented, "Our price target implies potential upside of 28% above recent levels. We highlight the company’s pivot to cybersecurity, with accelerating product revenue and substantial cost reductions driving strong earnings growth. Of particular note, Endpoint Security product revenue grew 193% year-over-year (yoy) in 3Q16, buoyed by significantly higher pricing (up 82% yoy). We believe GUID is gaining share due to the critical need for endpoint detection and response (EDR), given the insufficiency of legacy solutions. Management highlighted recent competitive wins against notable security vendors such as Tanium and Carbon Black."
Shares of Guidance Software closed at $5.45 yesterday.
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