Websense (WBSN): IT Spending Getting More Cautious

CSFB parses IT vendor Websense’s Q1 announcement and concludes that the company’s customers–corporate IT departments–are getting more cautious. The length of the contracts Websense customers are are willing to sign is shrinking, which is often an early sign of a spending slowdown:

We view the shortening of contract lengths as indicative of a weaker macro IT spending environment, in which enterprises are less willing to make larger upfront payments to vendors-which is consistent with other channel checks that we have performed across the software sector.

 

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