Barracuda Networks Inc. (NYSE:CUDA) has earned a consensus rating of “Hold” from the nineteen analysts that are presently covering the firm. Three investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $24.81.
A number of brokerages have recently weighed in on CUDA. JMP Securities reiterated a “sell” rating on shares of Barracuda Networks in a report on Saturday, July 9th. DA Davidson reiterated a “neutral” rating and issued a $15.50 price target on shares of Barracuda Networks in a report on Wednesday, July 6th. Zacks Investment Research upgraded Barracuda Networks from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Friday, July 8th. Piper Jaffray Cos. upgraded Barracuda Networks from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $18.00 to $32.00 in a report on Wednesday. Finally, BWS Financial boosted their price target on Barracuda Networks to $30.00 in a report on Wednesday.
Barracuda Networks (NYSE:CUDA) opened at 25.47 on Monday. The stock has a market cap of $1.33 billion, a PE ratio of 636.75 and a beta of 3.61. The firm has a 50-day moving average price of $23.96 and a 200 day moving average price of $19.17. Barracuda Networks has a 52-week low of $9.44 and a 52-week 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 for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.08. Barracuda Networks had a negative return on equity of 50.65% and a net margin of 2.03%. The business earned $87.90 million during the quarter. During the same quarter last year, the firm posted $0.10 earnings per share. Barracuda Networks’s revenue was up 12.1% compared to the same quarter last year. Equities analysts anticipate that Barracuda Networks will post $0.57 earnings per share for the current year.
In other news, SVP Michael D. Hughes sold 4,468 shares of the business’s stock in a transaction on 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 directly owns 113,971 shares of the company’s stock, valued at $2,854,973.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Dean M. Drako sold 146,232 shares of the business’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $22.01, for a total value of $3,218,566.32. The disclosure for this sale can be found here. 39.60% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the company. US Bancorp DE raised 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 worth $107,000 after buying an additional 4,698 shares during the period. BlackRock Advisors LLC raised 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 worth $156,000 after buying an additional 3,900 shares during the period. AHL Partners LLP bought a new stake in shares of Barracuda Networks during the second quarter worth about $158,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Barracuda Networks during the second quarter worth about $179,000. Finally, Algert Global LLC bought a new stake in shares of Barracuda Networks during the second quarter worth about $182,000. 54.20% of the stock is currently 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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