A number of other research firms also recently issued reports on CUDA. Zacks Investment Research raised shares of Barracuda Networks from a hold rating to a strong-buy rating and set a $27.00 price target on the stock in a research note on Friday, October 7th. Vetr downgraded shares of Barracuda Networks from a strong-buy rating to a buy rating and set a $24.75 price target on the stock. in a research note on Wednesday, August 24th. Pacific Crest raised shares of Barracuda Networks from a sector weight rating to an overweight rating and boosted their price target for the company from $23.27 to $30.00 in a research note on Tuesday, August 30th. DA Davidson set a $20.00 price target on shares of Barracuda Networks and gave the company a sell rating in a research note on Tuesday, October 4th. Finally, Rosenblatt Securities began coverage on shares of Barracuda Networks in a research note on Monday, August 1st. They issued a buy rating and a $30.00 price target on the stock. Three investment 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. Barracuda Networks presently has a consensus rating of Hold and a consensus target price of $24.58.
Shares of Barracuda Networks (NYSE:CUDA) opened at 25.05 on Wednesday. The firm has a market capitalization of $1.31 billion, a P/E ratio of 626.25 and a beta of 3.60. Barracuda Networks has a 52 week low of $9.44 and a 52 week high of $26.69. The firm has a 50-day moving average of $24.23 and a 200 day moving average of $19.42.
Barracuda Networks (NYSE:CUDA) last issued its earnings results on Tuesday, October 11th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $87.90 million for the quarter. During the same period last year, the firm earned $0.10 earnings per share. Barracuda Networks’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities research analysts expect that Barracuda Networks will post $0.57 EPS for the current fiscal year.
In related news, Director Jeffry R. Allen sold 6,403 shares of the company’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $20.75, for a total value of $132,862.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Dean M. Drako sold 93,585 shares of the company’s stock in a transaction on 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 insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Okumus Fund Management Ltd. acquired a new stake in Barracuda Networks during the first quarter valued at approximately $68,773,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Barracuda Networks during the second quarter valued at approximately $6,264,000. BlackRock Fund Advisors increased its stake in Barracuda Networks by 141.1% in the second quarter. BlackRock Fund Advisors now owns 565,490 shares of the company’s stock valued at $8,562,000 after buying an additional 330,942 shares during the period. State Street Corp increased its stake in Barracuda Networks by 223.6% in the second quarter. State Street Corp now owns 410,761 shares of the company’s stock valued at $6,219,000 after buying an additional 283,843 shares during the period. Finally, Primecap Management Co. CA increased its stake in Barracuda Networks by 37.6% in the first quarter. Primecap Management Co. CA now owns 915,000 shares of the company’s stock valued at $14,091,000 after buying an additional 250,000 shares during the period. 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.
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.