Barracuda Networks, Inc. (CUDA) Announces Earnings Results

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.

Earnings History for Barracuda Networks (NYSE:CUDA)

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