Market Overview

Macquarie Bullish On Cybersecurity Firms


Macquarie initiated coverage on several security software companies Tuesday and expressed that the “relevancy of cyber security has never been greater.”

Analyst Aaron Schwartz noted that “Cyber security has been elevated to a top issue from an afterthought at most organizations and is now at the forefront of corporate policy, which is putting top down pressure on the integrity of overall security strategy and drawing acknowledgement that the traditional security approach is flawed.”

“The industry is seeing fundamental change where new approaches, including analytic and cloudbased solutions, will see greater adoption which will bring leadership change and participation of non-traditional competitors,” according to Schwartz.

As examples of a changing landscape, Schwartz mentioned that in 2014, "the well-known proxy advisor, I.S.S., recommended majority board change at Target Corporation—solely due to security breaches—and the US Department of Justice filed criminal charges against the Chinese military for computer hacking and economic espionage; the first ever cyber security charges against a nation state."

Schwartz concluded that these "events have been catalysts to elevate cyber security to a board-level concern, increasing the relevancy of security within the overall IT spectrum. The long term bullish security thesis involves an increasing share of IT spend where, despite the relevancy and cost of attach, security remains stuck at only 4 percent of total IT spend."

Below are Macquarie’s price targets organized by ratings on cyber security companies.


Barracuda Networks Inc (NYSE: CUDA) $35 price target

Check Point Software Technologies Ltd. (NASDAQ: CHKP) $80 price target

Imperva Inc (NYSE: IMPV) $47 price target

Palo Alto Networks Inc (NYSE: PANW) $120 price target

Proofpoint Inc (NASDAQ: PFPT) $48 price target


FireEye Inc (NASDAQ: FEYE) $34 price target

Fortinet Inc (NASDAQ: FTNT) $28 price target

Symantec Corporation (NASDAQ: SYMC) $26 price target


Qualys Inc (NASDAQ: QLYS) $28 price target

Latest Ratings for CUDA

Jan 2018BairdDowngradesOutperformNeutral
Dec 2017JP MorganDowngradesOverweightNeutral
Nov 2017KeyBancDowngradesOverweightSector Weight

View More Analyst Ratings for CUDA
View the Latest Analyst Ratings


Related Articles (CUDA)

View Comments and Join the Discussion!

Posted-In: Aaron Schwartz MacquarieAnalyst Color Price Target Initiation Analyst Ratings

Latest Ratings

View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at