Sumner also points out that much of Veritas's third-quarter gains came from the volatile emerging products category -- primarily replication -- and a rise in government contracts.
But others have more confidence that Veritas will continue to roll. Smith Barney upgraded the stock from Hold to Buy. And Steve Berg of Punk Ziegel & Co. says he expects Veritas to hold up well against the competition.
"I'm sure those competitors [EMC and NetApp] will have their hands full in dealing with Veritas," Berg says.
Veritas also has $2.3 billion in cash on hand, and Bloom indicated that the company might make some acquisitions of its own. "We have an appetite to do more acquisitions," Bloom said. "And we certainly have the balance sheet and cash position to satisfy that appetite."
However, company executives acknowledged that its purchase of application software management vendor Precise Software, which it completed in June, hasn't worked out as well as it would have liked (see Veritas Picks Up Precise).
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