Barracuda Networks Inc. (NYSE:CUDA)‘s stock had its “underweight” rating reaffirmed by equities researchers at Imperial Capital in a report released on Thursday.
Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Barracuda Networks from a “hold” rating to a “strong-buy” rating and set a $27.00 price target for the company in a research report on Friday, October 7th. Summit Redstone reissued a “hold” rating and set a $15.00 price target on shares of Barracuda Networks in a research report on Saturday, July 2nd. Vetr downgraded shares of Barracuda Networks from a “strong-buy” rating to a “buy” rating and set a $26.50 price target for the company. in a research report on Monday, September 19th. Piper Jaffray Cos. reissued a “neutral” rating and set a $18.00 price target (up previously from $17.00) on shares of Barracuda Networks in a research report on Sunday, July 10th. Finally, Pacific Crest raised shares of Barracuda Networks from a “sector weight” rating to an “overweight” rating and lifted their target price for the stock from $23.27 to $30.00 in a research report on Tuesday, August 30th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Barracuda Networks has a consensus rating of “Hold” and an average target price of $24.58.
Barracuda Networks (NYSE:CUDA) opened at 25.52 on Thursday. The stock has a 50 day moving average of $24.15 and a 200 day moving average of $19.29. Barracuda Networks has a 12-month low of $9.44 and a 12-month high of $26.69. The company has a market cap of $1.33 billion, a PE ratio of 638.00 and a beta of 3.60.
Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.08. The company earned $87.90 million during the quarter. Barracuda Networks had a net margin of 2.03% and a negative return on equity of 56.63%. Barracuda Networks’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. Equities analysts expect that Barracuda Networks will post $0.57 earnings per share for the current year.
In other Barracuda Networks news, major shareholder Dean M. Drako sold 93,585 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $22.15, for a total value of $2,072,907.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffry R. Allen sold 6,403 shares of the business’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $20.75, for a total transaction of $132,862.25. The disclosure for this sale can be found here. 39.60% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Okumus Fund Management Ltd. acquired a new stake in Barracuda Networks during the first quarter worth $68,773,000. Spark Investment Management LLC acquired a new stake in Barracuda Networks during the first quarter worth $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 worth $1,599,000 after buying an additional 16,400 shares during the period. Jana Partners LLC acquired a new stake in Barracuda Networks during the first quarter worth $1,540,000. Finally, Prudential Financial Inc. acquired a new stake in Barracuda Networks during the first quarter worth $2,512,000. Hedge funds and other institutional investors own 53.98% 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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