Barracuda Networks (CUDA) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS
Barracuda Networks (NYSE:CUDA) announced its earnings results on Thursday. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.04, AnalystRatings.Net reports. The company had revenue of $66.20 million for the quarter, compared to the consensus estimate of $64.38 million. The company’s revenue for the quarter was up 17.6% on a year-over-year basis.
In other Barracuda Networks news, CMO Michael D. Perone sold 10,140 shares of the company’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $32.62, for a total transaction of $330,766.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Barracuda Networks (NYSE:CUDA) traded up 1.98% during mid-day trading on Thursday, hitting $34.00. 411,661 shares of the company’s stock traded hands. Barracuda Networks has a 52-week low of $18.63 and a 52-week high of $44.40. The stock has a 50-day moving average of $30.11 and a 200-day moving average of $31.93. The company’s market cap is $1.736 billion.
A number of research firms have recently commented on CUDA. Analysts at Topeka Capital Markets initiated coverage on shares of Barracuda Networks in a research note on Wednesday, June 18th. They set a “buy” rating and a $38.00 price target on the stock. Analysts at Bank of America upgraded shares of Barracuda Networks from a “neutral” rating to a “buy” rating in a research note on Friday, April 25th. They now have a $39.50 price target on the stock. Nine research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus target price of $31.69.
Barracuda Networks, Inc (NYSE:CUDA) designs and delivers security and storage solutions.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.