Imperial Capital Remains Sidelined on Barracuda Networks (CUDA) Following 1Q Report
- Wall St near even, dragged by Nike 6% drop after warning
- Over $100 Billion Wiped Off: Bitcoin (BTC) Price Falls As China's Central Bank Vows to Ban Cryptocurrency Trading
- Nike (NKE) Stock Falls On a Revenue Miss and Slashed FY Sales Outlook, Analysts Bullish Despite NT Supply Chain Challenges
- Oil hits highest in almost 3 years as supply tightens
- Here's Why Meredith (MDP) Stock Price Soared 18% in After Hours
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Imperial Capital reiterated an In-Line rating and $15.00 price target on Barracuda Networks (NYSE: CUDA) following the company's 1Q earnings report. The company reported revenues of $86.6M, ahead of the Street's $84M estimate. EPS was also reported above the Street at $0.20 vs $0.11.
Analyst Michael Kim commented, "We believe CUDA is achieving stronger momentum in the core business, buoyed by cloud email security, though we see continued growth headwinds from the legacy on-premise business, especially hardware appliances, due to the ongoing shift to cloud and virtual solutions. However, we think guidance for F2Q17 and FY17 could prove relatively conservative, given higher implied declines in appliance sales compared with recent results. EPS guidance implies a step down from F1Q17 due to planned growth investments, particularly sales and marketing. We expect CUDA to strategically exit from its non-core products during F2H17."
Shares of Barracuda Networks closed at $18.43 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Trip.com Group Limited (TCOM) PT Lowered to $44 at Benchmark After Earnings to Reflect Increased Covid Risk
- Zee Entertainment Enterprises Ltd. (Z:IN) PT Raised to INR410 at Macquarie
- Turkcell (TCELL:TI) (TKC) PT Raised to TRY20.30 at Goldman Sachs
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesEarnings, Imperial Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!