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ZIXI - Zix News Story

$7.09 -0.5  -7.1%

Last Trade - 19/04/21

Sector
Technology
Size
Small Cap
Market Cap £315.2m
Enterprise Value £453.4m
Revenue £158.0m
Position in Universe 3656th / 6847

BUZZ-Cowen starts covering cyber security firms, says Zcaler has potential to disrupt

Thu 23rd May, 2019 4:09pm
** Cowen & Co analysts initiate coverage on at least 10
cyber security companies, with either "market perform" or
"outperform" ratings 
    ** Brokerage says over time, Zcaler  ZS.O  has the potential
to disrupt the legacy on-premise network security stack, a $18
bln market today
    ** Says Fortinet  FTNT.O  is well-positioned to capitalize
on the rapidly growing SD-WAN (software-defined wide-area
network) market... however, co is not immune to an expected
slowdown in the security equipment market 
    ** Palo Alto's  PANW.N  positioning in enterprise security
market with its install base of ~60K customers should continue
to yield solid revenue growth, brokerage says, adding that
migration to cloud-based solutions could cause some near-term
disruption until its more nascent cloud & Cortex offerings scale
    ** Brokerage says several of Symantec's  SYMC.O  key
business segments are likely to remain challenged as security
budgets migrate away from on-premise appliances and that the
unexpected departure of CEO and reset of FY20 expectations make
it difficult to gauge the trajectory of business going forward
    ** Cowen analysts expect Zix  ZIXI.O  to continue to benefit
from the shift to Office 365, both indirectly from increased
demand for cloud-based solutions and indirectly now that it is a
certified reseller
    Cowen initiated coverage on the following stocks:
       
 Company      Rating           Wall St. avg.    PT    Median PT
                               rating                 
 ZScaler      "Outperform"     "Buy"            $85   $65
 Fortinet     "Marketperform"  "Hold"           $85   $95
 Palo Alto    "Marketperform"  "Buy"            $230  $285
 Check Point  "Marketperform"  "Hold"           $120  $121
 Software                                             
 Symantec     "Marketperform"  "Hold"           $22   $21
 Tenable      "Outperform"     "Buy"            $36   $41
 Carbon       "Marketperform"  "Buy"            $18   $19.50
 Black                                                
 Qualys       "Outperform"     "Hold"           $100  $100
 Zix          "Outperform"     "Buy"            $11   $11
 Rapid 7      "Outperform"     "Buy"            $63   $62
 

 (Reporting by Vibhuti Sharma in Bengaluru)
 ((RM: vibhuti.sharma.thomsonreuters.com@reuters.net))
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