Barracuda Networks Inc. (NYSE:CUDA) had its target price increased by Morgan Stanley from $19.00 to $23.00 in a research note released on Wednesday. Morgan Stanley currently has an equal weight rating on the stock.
A number of other research analysts have also recently commented on CUDA. Stifel Nicolaus upped their price objective on Barracuda Networks from $26.00 to $32.00 and gave the company a buy rating in a report on Wednesday. Piper Jaffray Cos. upgraded Barracuda Networks from a neutral rating to an overweight rating and upped their price objective for the company from $18.00 to $32.00 in a report on Wednesday. Vetr upgraded Barracuda Networks from a sell rating to a hold rating and set a $22.90 price objective on the stock in a report on Tuesday. Zacks Investment Research upgraded Barracuda Networks from a hold rating to a strong-buy rating and set a $27.00 price objective on the stock in a report on Friday, October 7th. Finally, DA Davidson reiterated an underperform rating and issued a $19.50 price objective on shares of Barracuda Networks in a report on Wednesday, October 5th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $23.79.
Shares of Barracuda Networks (NYSE:CUDA) traded up 0.35% during midday trading on Wednesday, hitting $25.56. The company had a trading volume of 471,829 shares. The company has a 50-day moving average of $23.96 and a 200-day moving average of $19.17. Barracuda Networks has a 12 month low of $9.44 and a 12 month high of $26.69. The company has a market capitalization of $1.33 billion, a PE ratio of 639.00 and a beta of 3.61.
Barracuda Networks (NYSE:CUDA) last posted its quarterly earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. The business earned $87.90 million during the quarter. Barracuda Networks had a negative return on equity of 50.65% and a net margin of 2.03%. Barracuda Networks’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the company earned $0.10 earnings per share. Analysts predict that Barracuda Networks will post $0.57 earnings per share for the current year.
In other Barracuda Networks news, CEO William D. Jenkins, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $20.23, for a total transaction of $80,920.00. Following the transaction, the chief executive officer now owns 625,934 shares of the company’s stock, valued at $12,662,644.82. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael D. Hughes sold 4,468 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $25.05, for a total transaction of $111,923.40. Following the sale, the senior vice president now owns 113,971 shares of the company’s stock, valued at approximately $2,854,973.55. The disclosure for this sale can be found here. 39.60% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Parametric Portfolio Associates LLC increased its stake in shares of Barracuda Networks by 0.7% in the second quarter. Parametric Portfolio Associates LLC now owns 38,620 shares of the company’s stock valued at $585,000 after buying an additional 271 shares during the period. Geode Capital Management LLC increased its stake in shares of Barracuda Networks by 1.1% in the first quarter. Geode Capital Management LLC now owns 127,648 shares of the company’s stock valued at $1,964,000 after buying an additional 1,373 shares during the period. BlackRock Advisors LLC increased its stake 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 period. US Bancorp DE increased its stake 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 period. Finally, American International Group Inc. increased its stake in shares of Barracuda Networks by 166.8% in the second quarter. American International Group Inc. now owns 12,670 shares of the company’s stock valued at $192,000 after buying an additional 7,922 shares during the period. Institutional investors and hedge funds own 54.20% of the company’s stock.
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.