Needham & Company Reiterates a 'Buy' on Sourcefire (FIRE); Strong Quarter and Outlook
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Price: $75.96 --0%
Rating Summary:
3 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Sourcefire (NASDAQ: FIRE) price target of $65.00.
Analyst, Scott Zeller, said, "The full-JuneQ results for FIRE, following the positive pre-announce, were at the high end of expectations, and guidance was better than anticipated. Going into last night’s call, investors were increasingly anxious about the big Federal quarter (SeptQ) which has historically been strong for FIRE; with recent earnings calls increasingly cautious about federal tone, investors were bracing for soft guidance from FIRE. The outlook, however, was cautiously optimistic for federal, SeptQ, and CY12. We have been following a two-pronged thesis on FIRE for CY12 of (a) better than expected federal performance and (b) the big y/y increase in VARs naturally drives revenue, as they ramp production. We are continuing the same lines of thinking for balance of CY12."
For an analyst ratings summary and ratings history on Sourcefire click here. For more ratings news on Sourcefire click here.
Shares of Sourcefire closed at $51.05 yesterday.
Analyst, Scott Zeller, said, "The full-JuneQ results for FIRE, following the positive pre-announce, were at the high end of expectations, and guidance was better than anticipated. Going into last night’s call, investors were increasingly anxious about the big Federal quarter (SeptQ) which has historically been strong for FIRE; with recent earnings calls increasingly cautious about federal tone, investors were bracing for soft guidance from FIRE. The outlook, however, was cautiously optimistic for federal, SeptQ, and CY12. We have been following a two-pronged thesis on FIRE for CY12 of (a) better than expected federal performance and (b) the big y/y increase in VARs naturally drives revenue, as they ramp production. We are continuing the same lines of thinking for balance of CY12."
For an analyst ratings summary and ratings history on Sourcefire click here. For more ratings news on Sourcefire click here.
Shares of Sourcefire closed at $51.05 yesterday.
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