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Barracuda Networks, Inc. Message Board

  • paul_416 paul_416 Jan 10, 2014 1:19 PM Flag

    Don't panic. We are now close to yesterday's low

     

    http://news.investors.com/technology/011014-685930-barracuda-networks-q3-earnings-outlook-beat-expectations.htm

    Barracuda Networks (CUDA) stock fell Friday, though the recent IPO late Thursday reported fiscal Q3 earnings, and gave guidance, that beat Wall Street expectations.
    "I think it's just a cooling off following the doubling of the stock since the IPO," Jason Ader, an analyst for William Blair & Co., told IBD via email. "Very high expectations; nothing negative from the call that I saw."
    Still, Barracuda stock was down 8% in early afternoon trading in the stock market today, near 36. Earlier, the stock had fallen as much as 16%.
    The IPO priced at $18 and started trading Nov. 6, with Barracuda stock touching its all-time high of 41.30 on Jan. 2.
    For the quarter ended Nov. 30, the maker of security storage products reported earnings per share minus items of 1 cent, where analysts polled by Thomson Reuters had expected break-even.
    Revenue rose 15% to $59.4 million, beating views of $57.9 million.
    For the current quarter, Barracuda expects EPS ex items of break-even or a penny, where analysts forecast break-even.
    The company expects revenue of $58.5 million to $60 million, up 11% to 14%, where analysts have forecast $58.2 million.
    "Barracuda reported solid fiscal 2014 third quarter earnings — its first quarter out of the IPO gate — beating numbers across the board, delivering strong profitability and guidance above expectations," analyst Ader wrote in a research note Friday. "Billings were driven by across-the-board strength in the company's product segments.
    "On a geographic basis, billings were evenly balanced, but particularly strong in Europe, the Middle East and Africa and in the Asia-Pacific region."

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