Barracuda Networks Inc. (CUDA) to Release Earnings on Tuesday
Barracuda Networks Inc. (NYSE:CUDA) will announce its Q217 earnings results on Tuesday, October 11th. Analysts expect the company to announce earnings of $0.82 per share and revenue of $1.72 billion for the quarter.
Barracuda Networks Inc. (NYSE:CUDA) opened at 23.83 on Monday. Barracuda Networks Inc. has a 52 week low of $9.44 and a 52 week high of $25.77. The firm has a 50-day moving average price of $23.75 and a 200-day moving average price of $18.96. The company has a market cap of $1.24 billion, a P/E ratio of 595.75 and a beta of 3.61.
In other news, Director Gordon Stitt acquired 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The stock was bought at an average price of $20.81 per share, with a total value of $83,240.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Dean M. Drako sold 3,768 shares of Barracuda Networks stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $22.01, for a total value of $82,933.68. The disclosure for this sale can be found here. 39.60% of the stock is owned by corporate insiders.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/10/barracuda-networks-inc-cuda-to-release-earnings-on-tuesday.html
Several hedge funds have recently modified their holdings of the company. AHL Partners LLP purchased a new stake in shares of Barracuda Networks during the second quarter valued at approximately $158,000. Cubist Systematic Strategies LLC bought a new stake in Barracuda Networks during the second quarter valued at about $558,000. Panagora Asset Management Inc. raised its stake in Barracuda Networks by 218.9% in the second quarter. Panagora Asset Management Inc. now owns 244,802 shares of the company’s stock valued at $3,706,000 after buying an additional 168,047 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in Barracuda Networks during the second quarter valued at about $346,000. Finally, Parametric Portfolio Associates LLC raised its stake in Barracuda Networks by 0.7% in the second quarter. Parametric Portfolio Associates LLC now owns 38,620 shares of the company’s stock valued at $585,000 after buying an additional 271 shares in the last quarter. 54.20% of the stock is owned by institutional investors.
A number of research firms have recently commented on CUDA. Vetr cut Barracuda Networks from a “strong-buy” rating to a “buy” rating and set a $24.75 target price for the company. in a research note on Wednesday, August 24th. Pacific Crest upgraded Barracuda Networks from a “sector weight” rating to an “overweight” rating and raised their target price for the company from $23.27 to $30.00 in a research note on Tuesday, August 30th. Zacks Investment Research cut Barracuda Networks from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Rosenblatt Securities began coverage on Barracuda Networks in a research note on Monday, August 1st. They issued a “buy” rating and a $30.00 target price for the company. Finally, DA Davidson set a $20.00 target price on Barracuda Networks and gave the company a “sell” rating in a research note on Tuesday, October 4th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $21.07.
About Barracuda Networks
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.
Receive News & Ratings for Barracuda Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barracuda Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.