Analyst Update: Barracuda Networks Inc, Gogo Inc, and NeoGenomics, Inc.

Analysts revised their ratings and price targets on Barracuda Networks Inc (CUDA), Gogo Inc (GOGO), and NeoGenomics, Inc. (NEO)

Jul 8, 2016 at 2:10 PM
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Analysts are weighing in on data security firm Barracuda Networks Inc (NYSE:CUDA), in-flight internet provider Gogo Inc (NASDAQ:GOGO), and genetic testing specialist NeoGenomics, Inc. (NASDAQ:NEO)Here's a quick roundup of today's brokerage notes on CUDA, GOGO, and NEO.

  • CUDA has soared 17.2% at $18.18, after the company's earnings beat last night prompted a series of upbeat brokerage notes. Specifically, Barrington, Summit Redstone, Piper Jaffray, and J.P. Morgan Securities raised their price targets, with the latter setting the highest bar, at $24 -- and waxing optimistic over the accelerated shift of email into the cloud. Today's sharp gains -- which have Barracuda Networks Inc shares on track for their highest close since late April -- could have option bears feeling the heat. During the past 10 weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), traders have bought to open 1.22 puts for every call -- a ratio that sits just 11 percentage points from an annual high.
  • GOGO has added 2.6% at $8.62, following positive comments from Cowen, which sees the company's market share growing and predicts revenue opportunity in the tens of billions of dollars. Longer term, though, Gogo Inc has struggled mightily in 2016, losing over half its value. Meanwhile, short sellers have piled on the stock's bearish bandwagon. During the most recent reporting period, short interest spiked by more than 21%, and now accounts for 45.2% of GOGO's total float. At the stock's typical daily trading levels, it would take nine sessions to cover these positions.
  • NEO is up 11.5% at $9.10 -- and earlier hit a 15-year high of $9.23 -- after Craig-Hallum boosted its price target to $12 from $10, citing favorable 2017 Medicare rates. Generally speaking, the brokerage bunch is extremely upbeat toward NeoGenomics, Inc., with each of the stock's four covering analysts doling out a "strong buy" rating. Meanwhile, short-term options traders have been more put-skewed than usual toward the shares. NEO's Schaeffer's put/call open interest ratio (SOIR) of 0.55 ranks in the high 88th percentile of its annual range.

For other stocks in analysts' crosshairs, read Analyst Upgrades: GrubHub Inc, Intel Corporation, and Gap Inc and Analyst Downgrades: Advanced Micro Devices, Inc., Apple Inc., and Humana Inc.

 

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