With Barracuda Networks (CUDA) set to report earnings Tuesday, other top cybersecurity stocks could hit buy or sell points in the coming week.
The U.S. government also officially blamed Russia late Friday for cyberattacks meant to influence the presidential election, putting extra focus on the sector.
Qualys (QLYS) broke out in August from a flat base and has continued to march higher since then. Shares are now nearing profit-taking sell range.
KEYW Holding (KEYW) has been working its way through a consolidation and is now just below an 11.36 buy point. Shares closed Friday at 11.07.
Vasco Data Security (VDSI) is in a flat base with a 19.40 buy point. Shares ended Friday at 18.15.
Fortinet (FTNT) attempted a breakout late last month and early this month, but the stock has since dipped back below its 50-day average and is in sell territory.
Among other highly rated cyber stocks, CyberArk (CYBR) dropped below its 50-day average Sept. 9 and has stayed there since, while Palo Alto Networks (PANW) retook its 200-day line early last month, and its upward sloping 50-day line crossed above its 200-day line Friday, a bullish sign.
Barracuda
For the quarter ended Aug. 31, analysts expect Barracuda’s EPS ex items to rise 30% to 13 cents, with revenue up 9% to 85.3 million, marking its smallest gain since it went public in November 2013.
Barracuda is transitioning to cloud-based security from appliances and has launched products that target customers of Amazon (AMZN) Web Services and of Microsoft (MSFT) Azure and Office 365.
Barracuda’s Q1 earnings and sales beat sent shares jumping 19%, and they have since risen another 33%. The stock has a Composite Rating of 94.
Source: Investor’s Business Daily