Barracuda Networks Inc (CUDA) Receives $27.73 Average Price Target from Analysts

Barracuda Networks Inc (NYSE:CUDA) has been assigned an average recommendation of “Hold” from the seventeen ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $27.73.

A number of equities analysts have recently commented on CUDA shares. JPMorgan Chase downgraded shares of Barracuda Networks from an “overweight” rating to a “neutral” rating and set a $27.55 price objective for the company. in a report on Tuesday, December 12th. Zacks Investment Research raised shares of Barracuda Networks from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. Robert W. Baird downgraded shares of Barracuda Networks from an “outperform” rating to a “neutral” rating and set a $28.00 price objective for the company. in a report on Tuesday, January 9th. Finally, Imperial Capital raised their price objective on shares of Barracuda Networks from $22.00 to $27.55 and gave the stock a “line” rating in a report on Wednesday, January 10th.

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Shares of NYSE:CUDA remained flat at $$27.54 during midday trading on Wednesday. 6,174,200 shares of the stock were exchanged, compared to its average volume of 1,553,386. Barracuda Networks has a one year low of $19.06 and a one year high of $27.95.

Barracuda Networks (NYSE:CUDA) last released its quarterly earnings data on Monday, January 8th. The communications equipment provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The business had revenue of $94.75 million for the quarter, compared to the consensus estimate of $93.85 million. Barracuda Networks had a return on equity of 104.10% and a net margin of 8.21%. research analysts anticipate that Barracuda Networks will post 0.31 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Wedge Capital Management L L P NC lifted its holdings in Barracuda Networks by 23.2% during the 4th quarter. Wedge Capital Management L L P NC now owns 13,471 shares of the communications equipment provider’s stock valued at $370,000 after purchasing an additional 2,541 shares during the last quarter. LS Investment Advisors LLC increased its position in Barracuda Networks by 264.7% in the 4th quarter. LS Investment Advisors LLC now owns 5,015 shares of the communications equipment provider’s stock valued at $138,000 after acquiring an additional 3,640 shares in the last quarter. Nordea Investment Management AB increased its position in Barracuda Networks by 4.6% in the 3rd quarter. Nordea Investment Management AB now owns 86,838 shares of the communications equipment provider’s stock valued at $2,104,000 after acquiring an additional 3,822 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in Barracuda Networks by 61.2% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 10,800 shares of the communications equipment provider’s stock valued at $297,000 after acquiring an additional 4,100 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Barracuda Networks by 2.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 150,491 shares of the communications equipment provider’s stock valued at $4,138,000 after acquiring an additional 4,139 shares in the last quarter. 75.84% of the stock is owned by hedge funds and other institutional investors.

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Barracuda Networks Company Profile

Barracuda Networks, Inc designs and delivers security and data protection solutions. The Company offers cloud-enabled solutions that enable customers to address security threats, manage network performance, and protect and store their data. Its solutions are designed to manage information technology operations for its customers.

Analyst Recommendations for Barracuda Networks (NYSE:CUDA)

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