According to Zacks, “Barracuda Networks, Inc. is engaged in designing and delivering security and storage solutions. Its products span three distinct markets, including: 1) content security, 2) networking and application delivery and 3) data storage, protection and disaster recovery. It offers cloud-connected solutions that help its customers address security threats, enhance network performance, and protect and store their data. Barracuda Networks, Inc. is headquartered in Campbell, California. “
CUDA has been the topic of a number of other research reports. Vetr lowered Barracuda Networks from a strong-buy rating to a buy rating and set a $24.75 target price on the stock. in a report on Wednesday, August 24th. Pacific Crest raised Barracuda Networks from a sector weight rating to an overweight rating and increased their price target for the company from $23.27 to $30.00 in a research report on Tuesday, August 30th. DA Davidson set a $20.00 price target on Barracuda Networks and gave the company a sell rating in a research report on Tuesday, October 4th. Rosenblatt Securities started coverage on Barracuda Networks in a research report on Monday, August 1st. They set a buy rating and a $30.00 price target for the company. Finally, JMP Securities increased their price target on Barracuda Networks from $13.00 to $15.00 and gave the company a market underperform rating in a research report on Wednesday, October 12th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Barracuda Networks presently has a consensus rating of Hold and a consensus price target of $24.58.
Shares of Barracuda Networks (NYSE:CUDA) opened at 25.05 on Wednesday. Barracuda Networks has a 52-week low of $9.44 and a 52-week high of $26.69. The stock’s 50 day moving average price is $24.23 and its 200-day moving average price is $19.42. The company has a market capitalization of $1.31 billion, a P/E ratio of 626.25 and a beta of 3.60.
Barracuda Networks (NYSE:CUDA) last posted its earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.08. Barracuda Networks had a negative return on equity of 56.63% and a net margin of 2.03%. The company had revenue of $87.90 million for the quarter. During the same quarter in the prior year, the business earned $0.10 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities analysts expect that Barracuda Networks will post $0.57 earnings per share for the current year.
In other Barracuda Networks news, Director Jeffry R. Allen sold 6,403 shares of Barracuda Networks stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $20.75, for a total transaction of $132,862.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Dean M. Drako sold 146,232 shares of Barracuda Networks stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $22.01, for a total value of $3,218,566.32. The disclosure for this sale can be found here. Corporate insiders own 39.60% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Algert Global LLC raised its stake in shares of Barracuda Networks by 242.5% in the third quarter. Algert Global LLC now owns 41,130 shares of the company’s stock valued at $1,048,000 after buying an additional 29,122 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Barracuda Networks by 47.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 75,644 shares of the company’s stock valued at $1,146,000 after buying an additional 24,436 shares during the period. American Century Companies Inc. purchased a new stake in shares of Barracuda Networks during the second quarter valued at about $3,356,000. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Barracuda Networks during the second quarter valued at about $250,000. Finally, Numeric Investors LLC purchased a new stake in shares of Barracuda Networks during the second quarter valued at about $321,000. 53.98% of the stock is owned by hedge funds and other 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.