Barracuda Networks Inc. (NYSE:CUDA) had its price objective upped by BWS Financial from $26.00 to $30.00 in a research note published on Wednesday morning. They currently have a buy rating on the stock.
Other equities research analysts have also issued reports about the stock. JMP Securities reiterated a sell rating on shares of Barracuda Networks in a report on Saturday, July 9th. Imperial Capital reissued an in-line rating and issued a $17.00 price objective (up from $15.00) on shares of Barracuda Networks in a research report on Tuesday, July 12th. Summit Research assumed coverage on shares of Barracuda Networks in a research report on Friday, July 1st. They issued a hold rating on the stock. Summit Redstone reissued a hold rating and issued a $15.00 price objective on shares of Barracuda Networks in a research report on Saturday, July 2nd. Finally, DA Davidson downgraded shares of Barracuda Networks from a neutral rating to an underperform rating and increased their price objective for the company from $17.00 to $19.50 in a research report on Friday, August 12th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $24.58.
Shares of Barracuda Networks (NYSE:CUDA) opened at 25.05 on Wednesday. The stock’s 50 day moving average is $24.23 and its 200 day moving average is $19.42. 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 1-year low of $9.44 and a 1-year high of $26.69.
Barracuda Networks (NYSE:CUDA) last released its earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.08. The company had revenue of $87.90 million for the quarter. Barracuda Networks had a net margin of 2.03% and a negative return on equity of 56.63%. Barracuda Networks’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 earnings per share. Equities analysts predict that Barracuda Networks will post $0.57 earnings per share for the current year.
In other news, Director Gordon Stitt bought 4,000 shares of Barracuda Networks stock in a transaction dated Tuesday, November 8th. The stock was bought at an average price of $20.81 per share, for a total transaction of $83,240.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Dean M. Drako sold 58,899 shares of the firm’s stock in a transaction on Friday, October 14th. The stock was 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. 39.60% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in CUDA. US Bancorp DE boosted its stake in 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. BlackRock Advisors LLC boosted its stake in 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. AHL Partners LLP purchased a new stake in Barracuda Networks during the second quarter valued at approximately $158,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Barracuda Networks during the second quarter valued at approximately $179,000. Finally, Algert Global LLC purchased a new stake in Barracuda Networks during the second quarter valued at approximately $182,000. Institutional investors own 53.98% 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.
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