Barracuda Networks Inc. (NYSE:CUDA) had its price objective raised by JMP Securities from $13.00 to $15.00 in a research note published on Wednesday. JMP Securities currently has a market underperform rating on the stock.
CUDA has been the topic of a number of other research reports. Vetr lowered shares of Barracuda Networks from a strong-buy rating to a buy rating and set a $26.50 price target on the stock. in a research note on Monday, September 19th. Stifel Nicolaus increased their price objective on shares of Barracuda Networks from $26.00 to $32.00 and gave the stock a buy rating in a research note on Wednesday, October 12th. Zacks Investment Research upgraded shares of Barracuda Networks from a hold rating to a buy rating and set a $21.00 price objective on the stock in a research note on Friday, July 8th. Piper Jaffray Cos. upgraded shares of Barracuda Networks from a neutral rating to an overweight rating and increased their price objective for the stock from $18.00 to $32.00 in a research note on Wednesday, October 12th. Finally, DA Davidson reiterated an underperform rating and issued a $19.50 price objective on shares of Barracuda Networks in a research note on Wednesday, October 5th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Barracuda Networks presently has a consensus rating of Hold and an average target price of $24.58.
Shares of Barracuda Networks (NYSE:CUDA) opened at 25.52 on Wednesday. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 638.00 and a beta of 3.60. The firm has a 50-day moving average of $24.15 and a 200 day moving average of $19.29. Barracuda Networks has a one year low of $9.44 and a one year high of $26.69.
Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ 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 had revenue of $87.90 million for the quarter. During the same quarter in the previous year, the company posted $0.10 EPS. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities research analysts predict that Barracuda Networks will post $0.57 EPS for the current year.
In other Barracuda Networks news, Director Gordon Stitt purchased 4,000 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The shares were purchased at an average cost of $20.81 per share, with a total value of $83,240.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Dean M. Drako sold 3,768 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $22.01, for a total transaction of $82,933.68. The disclosure for this sale can be found here. 39.60% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. acquired a new position in Barracuda Networks during the first quarter valued at $2,512,000. Spark Investment Management LLC purchased a new stake in Barracuda Networks during the first quarter valued at about $1,262,000. Primecap Management Co. CA boosted 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 last quarter. Geode Capital Management LLC boosted its stake in 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 last quarter. Finally, A.R.T. Advisors LLC boosted its stake in Barracuda Networks by 18.7% in the first quarter. A.R.T. Advisors LLC now owns 103,890 shares of the company’s stock valued at $1,599,000 after buying an additional 16,400 shares during the last quarter. 53.98% of the stock is currently owned by hedge funds and other 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.
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