Barracuda Networks Inc. (CUDA) Posts Earnings Results, Misses Estimates By $0.61 EPS
Barracuda Networks Inc. (NYSE:CUDA) announced its earnings results on Tuesday. The company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by $0.61. Barracuda Networks had a negative return on equity of 33.60% and a net margin of 0.67%.
Shares of Barracuda Networks (NYSE:CUDA) traded down 2.95% during trading on Tuesday, hitting $23.33. 1,140,082 shares of the stock were exchanged. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 583.25 and a beta of 3.60. The firm has a 50 day moving average of $23.81 and a 200-day moving average of $19.09. Barracuda Networks has a 12-month low of $9.44 and a 12-month high of $25.77.
Several research firms have recently commented on CUDA. Vetr lowered shares of Barracuda Networks from a “strong-buy” rating to a “buy” rating and set a $26.50 price objective for the company. in a research note on Monday, September 19th. Zacks Investment Research raised shares of Barracuda Networks from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Friday, July 8th. JMP Securities reissued a “sell” rating on shares of Barracuda Networks in a research note on Saturday, July 9th. DA Davidson reissued an “underperform” rating and issued a $19.50 price objective on shares of Barracuda Networks in a research note on Wednesday, October 5th. Finally, Piper Jaffray Cos. reissued a “neutral” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Barracuda Networks in a research note on Sunday, July 10th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $21.07.
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In other Barracuda Networks news, SVP Michael D. Hughes sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $20.23, for a total value of $101,150.00. Following the completion of the transaction, the senior vice president now owns 114,513 shares in the company, valued at approximately $2,316,597.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gordon Stitt purchased 4,000 shares of the firm’s stock in a transaction 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 disclosure for this purchase can be found here. Insiders own 39.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CUDA. US Bancorp DE boosted its position in Barracuda Networks by 199.2% in the second quarter. US Bancorp DE now owns 7,057 shares of the company’s stock worth $107,000 after buying an additional 4,698 shares in the last quarter. BlackRock Advisors LLC boosted its position in Barracuda Networks by 60.8% in the second quarter. BlackRock Advisors LLC now owns 10,312 shares of the company’s stock worth $156,000 after buying an additional 3,900 shares in the last quarter. AHL Partners LLP bought a new position in Barracuda Networks during the second quarter worth $158,000. Algert Global LLC bought a new position in Barracuda Networks during the second quarter worth $182,000. Finally, Pacad Investment Ltd. bought a new position in Barracuda Networks during the second quarter worth $183,000. Hedge funds and other institutional investors own 54.20% of the company’s stock.
Barracuda Networks Company Profile
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.
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