Barracuda Networks Inc. (NYSE:CUDA) had its target price increased by investment analysts at JMP Securities from $13.00 to $15.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has a “market underperform” rating on the stock. JMP Securities’ price objective suggests a potential downside of 40.85% from the company’s previous close.
Other analysts have also issued reports about the stock. Vetr lowered shares of Barracuda Networks from a “strong-buy” rating to a “buy” rating and set a $26.50 target price on the stock. in a research note on Monday, September 19th. Stifel Nicolaus upped their target price on shares of Barracuda Networks from $26.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Barracuda Networks from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Friday, July 8th. Piper Jaffray Cos. upgraded shares of Barracuda Networks from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $18.00 to $32.00 in a research note on Wednesday. Finally, DA Davidson reaffirmed an “underperform” rating and issued a $19.50 price target on shares of Barracuda Networks in a report on Wednesday, October 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Barracuda Networks presently has an average rating of “Hold” and a consensus price target of $24.46.
Shares of Barracuda Networks (NYSE:CUDA) opened at 25.36 on Wednesday. Barracuda Networks has a 12-month low of $9.44 and a 12-month high of $26.69. The company has a market capitalization of $1.32 billion, a PE ratio of 634.00 and a beta of 3.61. The stock has a 50 day moving average of $24.05 and a 200-day moving average of $19.21.
Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings data on Tuesday, October 11th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.08. The firm had revenue of $87.90 million for the quarter. Barracuda Networks had a net margin of 2.03% and a negative return on equity of 56.63%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. Analysts predict that Barracuda Networks will post $0.57 earnings per share for the current fiscal year.
In other Barracuda Networks news, Director Gordon Stitt acquired 4,000 shares of the company’s stock in a transaction on Tuesday, November 8th. The shares were bought at an average cost of $20.81 per share, for a total transaction of $83,240.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffry R. Allen sold 6,403 shares of Barracuda Networks stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $20.75, for a total value of $132,862.25. The disclosure for this sale can be found here. Corporate insiders own 39.60% of the company’s stock.
Large investors have recently bought and sold shares of the company. Okumus Fund Management Ltd. acquired a new stake in Barracuda Networks during the first quarter valued at about $68,773,000. Spark Investment Management LLC acquired a new stake in Barracuda Networks during the first quarter valued at about $1,262,000. A.R.T. Advisors LLC increased its stake in Barracuda Networks by 18.7% in the first quarter. A.R.T. Advisors LLC now owns 103,890 shares of the company’s stock valued at $1,599,000 after buying an additional 16,400 shares in the last quarter. Jana Partners LLC acquired a new stake in Barracuda Networks during the first quarter valued at about $1,540,000. Finally, Prudential Financial Inc. acquired a new stake in Barracuda Networks during the first quarter valued at about $2,512,000. Institutional investors own 54.20% of the company’s stock.
About Barracuda Networks
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.
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