Filed under: Good news, Technical Analysis, Stocks to Buy
Websense (NASDAQ: WBSN) develops and markets web filtering and security software that helps organizations to manage usage of their computer networks. Programs monitor network access, protect confidential information from web-based attacks, monitor e-mail and instant messaging, prohibit employee access to certain content, and restrict access to employer-defined time periods. The company hosts a service that allows subscribers to upgrade their Websense software to protect against new web-based and application-based threats.
The firm pleased investors earlier in the week when it said that Q4 non-GAAP revenues were expected to exceed previous guidance of $76-$79 million. Wall Street had been looking for $77.3 million. Management also remarked that quarterly billings would top the previous estimate of $92-$95 million. In discussing the upside adjustments, the CEO particularly cited positive results from the recent acquisition of SurfControl. WBSN shares popped on the news and then moved into a bullish “flag” consolidation pattern. Prices frequently exit flags moving in the same direction they were traveling on entry. In this case, that would be to the upside.
Continue reading Websense (WBSN): Shares form bullish ‘flag’
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