Barracuda Networks Inc. (CUDA) Updates Q3 Earnings Guidance
Barracuda Networks Inc. (NYSE:CUDA) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.14-0.15 for the period, compared to the Thomson Reuters consensus estimate of $0.12. The company issued revenue guidance of $85-87 million, compared to the consensus revenue estimate of $85.42 million.
Barracuda Networks Inc. (NYSE:CUDA) traded down 2.95% during trading on Tuesday, reaching $23.33. The company’s stock had a trading volume of 1,353,504 shares. Barracuda Networks Inc. has a 52 week low of $9.44 and a 52 week high of $25.77. The company has a market capitalization of $1.22 billion, a PE ratio of 583.25 and a beta of 3.60. The company has a 50 day moving average price of $23.81 and a 200-day moving average price of $19.09.
Barracuda Networks (NYSE:CUDA) last issued its earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. The business earned $87.90 million during the quarter, compared to the consensus estimate of $85.27 million. Barracuda Networks had a negative return on equity of 33.60% and a net margin of 0.67%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 EPS. Equities research analysts anticipate that Barracuda Networks Inc. will post $0.57 earnings per share for the current year.
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 http://www.americanbankingnews.com/2016/10/11/barracuda-networks-inc-cuda-updates-q3-earnings-guidance.html
Several research firms recently weighed in on CUDA. Pacific Crest raised Barracuda Networks from a sector weight rating to an overweight rating and raised their price objective for the company from $23.27 to $30.00 in a research note on Tuesday, August 30th. DA Davidson set a $20.00 price objective on Barracuda Networks and gave the company a sell rating in a research note on Tuesday, October 4th. Vetr raised Barracuda Networks from a buy rating to a strong-buy rating and set a $26.50 price objective for the company in a research note on Tuesday, August 30th. Rosenblatt Securities began coverage on Barracuda Networks in a research note on Monday, August 1st. They issued a buy rating and a $30.00 price objective for the company. Finally, Imperial Capital reaffirmed an in-line rating and issued a $17.00 price objective (up from $15.00) on shares of Barracuda Networks in a research note on Tuesday, July 12th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $21.07.
In other Barracuda Networks news, Director Jeffry R. Allen sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $19.38, for a total value of $193,800.00. Following the transaction, the director now directly owns 7,762 shares of the company’s stock, valued at $150,427.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael D. Hughes sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 15th. The shares were 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 directly owns 114,513 shares in the company, valued at $2,316,597.99. The disclosure for this sale can be found here. 39.60% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TFS Capital LLC acquired a new stake in shares of Barracuda Networks during the second quarter worth about $195,000. Pacad Investment Ltd. acquired a new stake in shares of Barracuda Networks during the second quarter worth about $183,000. Deere & Co. raised its stake in shares of Barracuda Networks by 184.5% in the second quarter. Deere & Co. now owns 74,902 shares of the company’s stock worth $1,134,000 after buying an additional 48,574 shares during the last quarter. American International Group Inc. raised its stake in shares of Barracuda Networks by 166.8% in the second quarter. American International Group Inc. now owns 12,670 shares of the company’s stock worth $192,000 after buying an additional 7,922 shares during the last quarter. Finally, Alliancebernstein L.P. acquired a new stake in shares of Barracuda Networks during the second quarter worth about $1,319,000. 54.20% of the stock is currently owned by institutional investors.
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.
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.