Vetr upgraded shares of Barracuda Networks Inc. (NYSE:CUDA) from a sell rating to a hold rating in a research note published on Tuesday morning. The firm currently has $22.90 target price on the stock.
CUDA has been the subject of a number of other reports. Zacks Investment Research upgraded Barracuda Networks from a hold rating to a buy rating and set a $21.00 price target for the company in a report on Friday, July 8th. JMP Securities reiterated a sell rating on shares of Barracuda Networks in a report on Saturday, July 9th. DA Davidson reiterated an underperform rating and set a $19.50 price target on shares of Barracuda Networks in a report on Wednesday, October 5th. Piper Jaffray Cos. reiterated a neutral rating and set a $18.00 price target (up from $17.00) on shares of Barracuda Networks in a report on Sunday, July 10th. Finally, Imperial Capital reiterated an in-line rating and set a $15.00 price target (down from $16.00) on shares of Barracuda Networks in a report on Thursday, June 30th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Barracuda Networks currently has a consensus rating of Hold and a consensus target price of $21.32.
Barracuda Networks (NYSE:CUDA) opened at 23.33 on Tuesday. Barracuda Networks has a 52 week low of $9.44 and a 52 week high of $25.77. The company has a market cap of $1.22 billion, a PE ratio of 583.25 and a beta of 3.61. The stock has a 50 day moving average of $23.86 and a 200 day moving average of $19.13.
Barracuda Networks (NYSE:CUDA) last issued its earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. Barracuda Networks had a negative return on equity of 33.60% and a net margin of 0.67%. The business earned $87.90 million during the quarter. During the same period last year, the business earned $0.10 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. Equities research analysts predict that Barracuda Networks will post $0.57 EPS for the current fiscal year.
In other news, Director Gordon Stitt purchased 4,000 shares of the business’s stock in a transaction on Tuesday, November 8th. The shares were bought at an average price of $20.81 per share, with a total value of $83,240.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Dean M. Drako sold 3,768 shares of Barracuda Networks stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $22.01, for a total value of $82,933.68. The disclosure for this sale can be found here. Insiders own 39.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CUDA. Okumus Fund Management Ltd. purchased a new position in Barracuda Networks during the first quarter valued at approximately $68,773,000. Fuller & Thaler Asset Management Inc. purchased a new position in Barracuda Networks during the second quarter valued at approximately $6,264,000. BlackRock Fund Advisors raised its position in Barracuda Networks by 141.1% in the second quarter. BlackRock Fund Advisors now owns 565,490 shares of the company’s stock valued at $8,562,000 after buying an additional 330,942 shares during the period. State Street Corp raised its position in Barracuda Networks by 223.6% in the second quarter. State Street Corp now owns 410,761 shares of the company’s stock valued at $6,219,000 after buying an additional 283,843 shares during the period. Finally, Primecap Management Co. CA raised its position in Barracuda Networks by 37.6% in the first quarter. Primecap Management Co. CA now owns 915,000 shares of the company’s stock valued at $14,091,000 after buying an additional 250,000 shares during the period. 54.20% of the stock is currently owned by institutional investors.
Barracuda Networks Company Profile
Barracuda Networks, Inc (Barracuda Networks) designs and delivers security and storage solutions. The Company offers cloud-connected solutions for its customers to address security threats, improve network performance and protect and store their data. The Company’s security and storage solutions are connected to its cloud services, which enable continuous software updates, offsite redundancy and distributed capacity, and are offered on a subscription basis.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Barracuda Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barracuda Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.