Barracuda Networks (CUDA) Tops Q4 EPS by 6c
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Weak Barracuda Networks (CUDA) Guidance Keeps Piper Jaffray On The Sidelines
April 27, 2016 8:39 AM EDTPiper Jaffray analyst, Andrew Nowinski, recognized Barracuda's improving fundamentals but is holding off on an upgrade to see better progress in revenue growth and recurring revenue. No change to Neutral rating, while the price target goes up to $17 (from $15).
Barracuda reported solid FQ4(Feb) results and the company appears to be making good progress in the transition to a SaaS model. More importantly, the cost realignment initiatives management has implemented had a positive impact on operating income and EPS guidance for FY17. That said, top-line growth is still minimal and management guided FY17 revenue below the Street, equating... More
