Barracuda Networks, Inc. (NYSE:CUDA) posted its earnings results on Tuesday. The communications equipment provider reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17, Bloomberg Earnings reports. The company had revenue of $94.30 million during the quarter, compared to analyst estimates of $93.32 million. Barracuda Networks had a return on equity of 420.23% and a net margin of 2.52%. Barracuda Networks’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 earnings per share. Barracuda Networks updated its FY18 guidance to $0.73-0.78 EPS and its Q3 guidance to $0.17-0.19 EPS.
Shares of Barracuda Networks (NYSE CUDA) opened at 22.65 on Thursday. The firm’s 50-day moving average price is $24.18 and its 200 day moving average price is $22.91. The firm has a market capitalization of $1.20 billion, a P/E ratio of 119.21 and a beta of 3.27. Barracuda Networks has a 12 month low of $19.06 and a 12 month high of $26.40.
Several analysts have recently commented on CUDA shares. Rosenblatt Securities reiterated a “buy” rating and set a $30.00 price objective on shares of Barracuda Networks in a report on Monday, June 26th. Pacific Crest reiterated an “overweight” rating and set a $30.00 price objective on shares of Barracuda Networks in a report on Wednesday, June 28th. Northland Securities reiterated a “buy” rating and set a $28.00 price objective on shares of Barracuda Networks in a report on Friday, June 30th. Robert W. Baird reiterated a “buy” rating on shares of Barracuda Networks in a report on Tuesday, July 11th. Finally, Imperial Capital increased their price objective 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 analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $27.25.
In other news, CFO Dustin Driggs sold 1,250 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $22.63, for a total value of $28,287.50. Following the completion of the sale, the chief financial officer now directly owns 105,471 shares of the company’s stock, valued at $2,386,808.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael D. Perone sold 108,258 shares of the company’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $25.77, for a total transaction of $2,789,808.66. Following the completion of the sale, the director now directly owns 1,378,038 shares of the company’s stock, valued at $35,512,039.26. The disclosure for this sale can be found here. Insiders sold 3,061,041 shares of company stock valued at $75,270,743 over the last ninety days. Corporate insiders own 13.90% of the company’s stock.
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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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