Stephens reiterated their neutral rating on shares of Barracuda Networks Inc. (NYSE:CUDA) in a report released on Thursday morning. Stephens currently has a $24.00 target price on the stock, up from their previous target price of $18.00.
Several other analysts have also weighed in on CUDA. Imperial Capital reiterated an in-line rating and set a $15.00 target price (down previously from $16.00) on shares of Barracuda Networks in a research note on Thursday, June 30th. Summit Research initiated coverage on shares of Barracuda Networks in a research note on Friday, July 1st. They set a hold rating for the company. Summit Redstone reiterated a hold rating and set a $15.00 target price on shares of Barracuda Networks in a research note on Saturday, July 2nd. DA Davidson reiterated a neutral rating and set a $15.50 target price on shares of Barracuda Networks in a research note on Wednesday, July 6th. Finally, Pacific Crest reiterated a hold rating on shares of Barracuda Networks in a research note on Thursday, July 7th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company 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 Thursday. Barracuda Networks has a 52 week low of $9.44 and a 52 week high of $26.69. The company has a 50 day moving average of $24.23 and a 200 day moving average of $19.42. The firm has a market cap of $1.31 billion, a PE ratio of 626.25 and a beta of 3.60.
Barracuda Networks (NYSE:CUDA) last released its earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.08. Barracuda Networks had a net margin of 2.03% and a negative return on equity of 56.63%. The firm earned $87.90 million during the quarter. During the same quarter in the previous year, the firm earned $0.10 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities research analysts anticipate that Barracuda Networks will post $0.57 EPS for the current fiscal year.
In other Barracuda Networks news, SVP Michael D. Hughes sold 5,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $22.22, for a total transaction of $111,100.00. Following the completion of the sale, the senior vice president now directly owns 109,513 shares of the company’s stock, valued at $2,433,378.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Dean M. Drako sold 93,585 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $22.15, for a total transaction of $2,072,907.75. The disclosure for this sale can be found here. 39.60% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. US Bancorp DE raised its stake in Barracuda Networks by 199.2% in the second quarter. US Bancorp DE now owns 7,057 shares of the company’s stock worth $107,000 after buying an additional 4,698 shares in the last quarter. BlackRock Advisors LLC raised its stake in Barracuda Networks by 60.8% in the second quarter. BlackRock Advisors LLC now owns 10,312 shares of the company’s stock worth $156,000 after buying an additional 3,900 shares in the last quarter. AHL Partners LLP purchased a new stake in Barracuda Networks during the second quarter worth approximately $158,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Barracuda Networks during the second quarter worth approximately $179,000. Finally, Algert Global LLC purchased a new stake in Barracuda Networks during the second quarter worth approximately $182,000. 53.98% of the stock is 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.
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.