The past week was somewhat mixed for Fortinet Inc. (NASDAQ: FTNT) and Barracuda Networks Inc. (NYSE: CUDA), as they went different ways after earnings data were released. For Barracuda it was its third-quarter earnings report, and for Fortinet it was only a preliminary release.

Analysts weighed in on each of these stocks after they released the data.

Fortinet shares slid in Wednesday’s session after the company released its preliminary third-quarter financial results. Ultimately these numbers did not live up to expectations, as we can tell by the investor reaction. Keep in mind that these third-quarter 2016 preliminary results are subject to change, based on the completion of the quarter-end review process.

Fortinet also expects to report total revenue for the third quarter between $311 million and $316 million, compared to previously announced guidance of $319 million to $324 million. Thomson Reuters consensus estimates call for $321.82 million in revenue for the quarter.

Earnings per share are expected to be in the range of $0.15 to $0.16, while the previously announced guidance was $0.17 to $0.18. Consensus estimates were calling for $0.18 per share.

The third-quarter results are scheduled to be announced on October 27.

A fair number of analysts weighed in on Fortinet:

• Barclays has an Overweight rating and cut its price target to $34 from $42.
• Citigroup lowered its price target to $31 from $35.
• Cowen has an Outperform rating and cut its price target to $35 from $39.
• Deutsche Bank has a Hold rating and lowered the price target to $32 from $34.
• Dougherty has a Buy rating and cut the price target to $35 from $40.
• Evercore ISI has a Hold rating and cut the price target from $34 to $31.
• Goldman Sachs has a Buy rating and lowered its price target to $36 from $43.
• JPMorgan has an Overweight rating and cut the target to $46 from $54.
• Nomura has a Buy rating and cut the price target to $47 from $55.
• Oppenheimer has an Outperform rating and lowered its price target to $40.
• Piper Jaffray has a Neutral rating and lowered its price target from $33 to $30.
• Raymond James has an Outperform rating and cut the target to $37 from $40.
• RBC has a Sector Perform rating and cut its price target to $30 from $37.
• UBS has a Buy rating and lowered its price target to $40 from $42.
• Wunderlich has a Buy rating and cut the price target to $42 from $45.

When Barracuda reported fiscal second-quarter financial results late on Tuesday, it said it had $0.21 in earnings per share on $87.9 million in revenue. The consensus estimates were $0.13 per share in earnings on revenue of $85.27 million. The same period of last year reportedly had earnings of $0.10 per share and $78.37 million in revenue.

Gross billings were $100.3 million, compared with $98.4 million in the second quarter of fiscal 2016. The number of active subscribers grew approximately 14% to over 298,000 and the dollar-based renewal rate was 96% for the quarter.

Analysts took a more positive outlook on Barracuda:

• BTIG has a Buy rating and raised its price target price to $28 from $26.
• JPMorgan has an Overweight rating and raised its price target to $28 from $24.
• Piper Jaffray raised it to Neutral from Overweight and raised its price target to $32 from $18.
• Stifel has a Buy rating and raised its price target to $32 from $26.

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Shares of Fortinet were closed Friday at $31.01, with a consensus analyst price target of $36.50 and a 52-week trading range of $23.16 to $44.63.

Barracuda closed at $25.52, in a 52-week range of $9.44 to $26.69. The consensus price target is $25.27.

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