Barracuda Networks Inc. (NYSE:CUDA) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.14-0.15 for the period, compared to the Thomson Reuters consensus estimate of $0.12. The company issued revenue guidance of $85-87 million, compared to the consensus revenue estimate of $85.42 million.
A number of brokerages have weighed in on CUDA. Vetr upgraded shares of Barracuda Networks from a sell rating to a hold rating and set a $22.90 price target for the company in a research report on Tuesday. Zacks Investment Research upgraded shares of Barracuda Networks from a hold rating to a strong-buy rating and set a $27.00 price target for the company in a research report on Friday, October 7th. DA Davidson reiterated an underperform rating and set a $19.50 price target on shares of Barracuda Networks in a research report on Wednesday, October 5th. Imperial Capital cut shares of Barracuda Networks from an in-line rating to an underperform rating and lifted their price target for the company from $17.00 to $20.00 in a research report on Tuesday, October 4th. Finally, Pacific Crest upgraded shares of Barracuda Networks from a sector weight rating to an overweight rating and lifted their price objective for the company from $23.27 to $30.00 in a report on Tuesday, August 30th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $20.96.
Shares of Barracuda Networks Inc. (NYSE:CUDA) opened at 23.33 on Wednesday. Barracuda Networks Inc. has a 12 month low of $9.44 and a 12 month high of $25.77. The stock’s 50 day moving average is $23.86 and its 200 day moving average is $19.13. The stock has a market cap of $1.22 billion, a P/E ratio of 583.25 and a beta of 3.60.
Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings data on Tuesday, October 11th. The company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.08. The business had revenue of $87.90 million for the quarter, compared to analyst estimates of $85.27 million. Barracuda Networks had a net margin of 0.67% and a negative return on equity of 33.60%. The company’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS. Analysts predict that Barracuda Networks Inc. will post $0.57 earnings per share for the current fiscal year.
In other news, Director Gordon Stitt acquired 4,000 shares of the stock in a transaction on Tuesday, November 8th. The stock was bought at an average price of $20.81 per share, with a total value of $83,240.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael D. Hughes sold 4,468 shares of the stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $25.05, for a total transaction of $111,923.40. Following the completion of the sale, the senior vice president now directly 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. Corporate insiders own 39.60% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. 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. 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. AHL Partners LLP purchased a new stake in shares of Barracuda Networks during the second quarter valued at about $158,000. Algert Global LLC purchased a new stake in shares of Barracuda Networks during the second quarter valued at about $182,000. Finally, Pacad Investment Ltd. purchased a new stake in shares of Barracuda Networks during the second quarter valued at about $183,000. 54.20% of the stock is owned by 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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