Barracuda Networks, Inc. (NYSE:CUDA)‘s stock had its “buy” rating reiterated by stock analysts at Stifel Nicolaus in a research note issued to investors on Tuesday. They presently have a $32.00 price target on the communications equipment provider’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 32.51% from the stock’s current price.
Several other equities analysts have also commented on the stock. BidaskClub upgraded shares of Barracuda Networks from a “strong sell” rating to a “sell” rating in a research note on Friday. BTIG Research restated a “buy” rating and set a $30.00 target price on shares of Barracuda Networks in a research report on Saturday, July 22nd. Zacks Investment Research lowered shares of Barracuda Networks from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $28.00 price target (down from $29.00) on shares of Barracuda Networks in a report on Wednesday, July 12th. Finally, Imperial Capital raised their target price on Barracuda Networks from $20.00 to $21.00 and gave the company an “in-line” rating in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $26.59.
Barracuda Networks (NYSE CUDA) traded down 0.12% on Tuesday, reaching $24.12. 61,262 shares of the company traded hands. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 126.95 and a beta of 3.28. The stock has a 50 day moving average of $23.30 and a 200-day moving average of $22.69. Barracuda Networks has a 1-year low of $19.06 and a 1-year high of $26.69.
Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings results on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Barracuda Networks had a net margin of 2.81% and a negative return on equity of 1,770.56%. The business had revenue of $94.18 million for the quarter, compared to analysts’ expectations of $91.18 million. During the same quarter in the prior year, the company earned $0.20 earnings per share. The business’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities analysts anticipate that Barracuda Networks will post $0.76 EPS for the current year.
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In related news, VP Diane Honda sold 7,026 shares of the stock in a transaction that occurred on Saturday, July 1st. The stock was sold at an average price of $22.89, for a total transaction of $160,825.14. Following the completion of the sale, the vice president now owns 100,085 shares in the company, valued at approximately $2,290,945.65. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Dustin Driggs sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $22.85, for a total value of $28,562.50. Following the completion of the sale, the chief financial officer now owns 104,221 shares of the company’s stock, valued at approximately $2,381,449.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,314,772 shares of company stock valued at $31,689,703. 13.90% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in CUDA. Asset Management One Co. Ltd. lifted its position in shares of Barracuda Networks by 2.9% during the 1st quarter. Asset Management One Co. Ltd. now owns 6,276 shares of the communications equipment provider’s stock worth $146,000 after buying an additional 177 shares during the period. Renaissance Group LLC increased its holdings in Barracuda Networks by 2.5% during the 2nd quarter. Renaissance Group LLC now owns 14,118 shares of the communications equipment provider’s stock valued at $326,000 after purchasing an additional 343 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Barracuda Networks by 1.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 52,327 shares of the communications equipment provider’s stock valued at $1,209,000 after purchasing an additional 621 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in Barracuda Networks by 2.0% during the 1st quarter. Parametric Portfolio Associates LLC now owns 33,590 shares of the communications equipment provider’s stock valued at $776,000 after purchasing an additional 655 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its holdings in Barracuda Networks by 4.3% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,396 shares of the communications equipment provider’s stock valued at $401,000 after purchasing an additional 710 shares in the last quarter. Institutional investors own 65.98% of the company’s stock.
About Barracuda Networks
Barracuda Networks, Inc designs and delivers security and data protection solutions. The Company offers cloud-enabled solutions that enable customers to address security threats, manage network performance, and protect and store their data. Its solutions are designed to manage information technology operations for its customers.
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