Rosenblatt Securities reaffirmed their buy rating on shares of Barracuda Networks Inc. (NYSE:CUDA) in a research report sent to investors on Thursday morning. The firm currently has a $30.00 target price on the stock.
CUDA has been the subject of a number of other research reports. JMP Securities reaffirmed a sell rating on shares of Barracuda Networks in a report on Saturday, July 9th. DA Davidson reaffirmed a neutral rating and issued a $15.50 price target on shares of Barracuda Networks in a report on Wednesday, July 6th. Zacks Investment Research raised shares of 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. Imperial Capital set a $20.00 price target on shares of Barracuda Networks and gave the company a sell rating in a report on Wednesday, October 12th. Finally, 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 report on Monday, September 5th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $24.58.
Barracuda Networks (NYSE:CUDA) opened at 25.05 on Thursday. The firm’s 50 day moving average price is $24.23 and its 200-day moving average price is $19.42. The stock has a market cap of $1.31 billion, a P/E ratio of 626.25 and a beta of 3.60. Barracuda Networks has a 12-month low of $9.44 and a 12-month high of $26.69.
Barracuda Networks (NYSE:CUDA) last released its quarterly earnings data on Tuesday, October 11th. The company reported $0.21 EPS 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 business earned $87.90 million during the quarter. During the same period last year, the company earned $0.10 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities research analysts anticipate that Barracuda Networks will post $0.57 earnings per share for the current fiscal year.
In related news, Director Jeffry R. Allen sold 6,403 shares of Barracuda Networks stock in a transaction that occurred on Friday, July 22nd. The shares were 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 SEC, which can be accessed through this hyperlink. Also, major shareholder Dean M. Drako sold 58,899 shares of Barracuda Networks stock in a transaction that occurred on Friday, October 14th. The shares were sold at an average price of $26.40, for a total transaction of $1,554,933.60. The disclosure for this sale can be found here. Insiders own 39.60% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. US Bancorp DE raised its position in shares of Barracuda Networks by 199.2% in the second quarter. US Bancorp DE now owns 7,057 shares of the company’s stock valued at $107,000 after buying an additional 4,698 shares during the last quarter. BlackRock Advisors LLC raised its position in shares of Barracuda Networks by 60.8% in the second quarter. BlackRock Advisors LLC now owns 10,312 shares of the company’s stock valued at $156,000 after buying an additional 3,900 shares during the last quarter. AHL Partners LLP acquired a new position in shares of Barracuda Networks during the second quarter valued at about $158,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Barracuda Networks during the second quarter valued at about $179,000. Finally, Algert Global LLC acquired a new position in shares of Barracuda Networks during the second quarter valued at about $182,000. 53.98% of the stock is currently owned by institutional investors.
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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