After the close today, Websense (WBSN), reported fourth quarter earnings that missed Wall Street expectations. The company blamed the shortfall on various new accounting policies, but The Market will probably care little for this excuse.

Greg, a subscriber, asks: What are your thoughts about the recent purchase of PortAuthority for $90 million by WBSN? How do you think this affects the current price and long term value of WBSN?

Websense (WBSN) is an interesting enterprise software stock that could provide above-average appreciation potential over the next few years. The company is a leading provider of employee Internet management tools (EIM) to corporations of all sizes.

Since most Wall Street analysts still remain very skeptical about the company’s ability to reignite top-line growth on a sustainable basis, dramatic upside moves in the stock price could be possible if the company continues to deliver greater-than-expected sales results, as was evidenced in last quarter’s financial report.