VIEWS: 16 PAGES: 2 CATEGORY: Stocks and Bonds POSTED ON: 1/15/2014
Several security stocks today hit new 52-week highs. FireEye shares jump more than 10%. Fortinet gets an upgrade. Stifel starts coverage of Proofpoint. A price-target boost for Qualys.
Robert DeFrancesco’s Tech-Stock Prospector January 15, 2014 Cybersecurity Roundup: FireEye, Palo Alto, Imperva & Proofpoint IT security names hitting new highs today: *Check Point Software (CHKP, $65.33)—New high: $65.50 *FireEye (FEYE, $65.14)—New high: $66.00 *Palo Alto Networks (PANW, $62.47)—New high: $62.82 *Imperva (IMPV, $55.14)—New high: $55.18 *Proofpoint (PFPT, $36.75)—New high: $37.43 *Qualys (QLYS, $28.52)—New high: $28.82 --Shares of FireEye (FEYE), one of our 7 TSP Tech Disruptors for 2014, today are up 10.6% on more than double average daily volume. --Wedbush upgrades Fortinet (FTNT) to ‘Outperform’ with a price target of $24 based on solid momentum in the ASIC-driven product cycle, reduced expectations (easy comps) and stabilizing fundamentals (new CFO already in place). --Stifel starts coverage of Proofpoint (PFPT) at ‘Buy’ with a price target of $43, saying the company has a differentiated growth story and could have consolidation potential. --Imperial Capital raises its price target on Qualys (QLYS) to $30 from $24 based on improved subscription visibility and overall growth potential for new products. --RBC Capital looks for strong growth this year in the following segments: data security, advanced threat protection, endpoint security and security-as-a-service. The firm thinks M&A and IPO activity will remain elevated. RBC’s top picks for 2014: Imperva (IMPV), Proofpoint (PFPT) and Qualys (QLYS). --BMO Capital believes estimates for F5 Networks (FFIV, $97.59), which has been ramping up its security business, are likely to rise following the release of fiscal Q1 (Dec.) results; the firm’s checks for the quarter came back positive. ------------------------------------------------------------------------------------------------------------ For more on the cybersecurity landscape and our picks for top M&A candidates, check out the January 2014 issue of Tech-Stock Prospector. Download the latest issue to your Amazon Kindle or Kindle for iPad/iPhone reading app here: http://www.amzn.com/B004T6Z0ME Here are some of the topics covered in the January 2014 issue: *Top potential takeover targets in tech for 2014 *An update on the continued land grab in marketing automation *How FireEye could spur more cybersecurity M&A *Might Cisco Systems make a sizable acquisition to help jumpstart growth? *A small-cap name that’s big in enterprise vulnerability management *Proofpoint builds its targeted attack prevention business *New growth drivers for ServiceNow in cloud-based IT management *Digital-advertising play: Marin Software *Cornerstone OnDemand stays competitive in talent management *Qlik Technologies is ready to ride the data visualization wave *Aruba Networks looks well positioned for the WiFi upgrade cycle *Adobe Systems continues its move to the cloud *Behind the big sales force reorganization at Symantec *Demandware brings the cloud to digital commerce *Why some savvy money managers like SolarWinds *Nimble Storage is ready to take on the big legacy vendors *Wall Street analysts keep boosting their Yahoo price targets *Is Fortinet primed to execute again after naming a new CFO? *Deal Report: RetailMeNot sees growth in digital coupons Order the January 2014 issue of TSP here: http://www.amzn.com/B004T6Z0ME Tech-Stock Prospector Managing Editor Rob DeFrancesco has more than 20 years of experience covering the tech sector. He is a former senior writer with Louis Rukeyser’s Wall Street. TechStockProspector.com, launched in 2003, is an investment-research service focused primarily on the networking, storage, security, wireless and software sectors. Annual subscription: $350. For more information or to place an order, call 800-392-0998.
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