Barracuda Networks Inc. (CUDA) Price Target Raised to $30.00 at BWS Financial
Barracuda Networks Inc. (NYSE:CUDA) had its target price raised by analysts at BWS Financial to $30.00 in a research note issued to investors on Wednesday. BWS Financial’s price target would indicate a potential upside of 28.59% from the stock’s current price.
A number of other research analysts have also issued reports on CUDA. Imperial Capital restated an “in-line” rating and set a $15.00 price objective (down previously from $16.00) on shares of Barracuda Networks in a research report on Thursday, June 30th. Summit Research initiated coverage on Barracuda Networks in a research report on Friday, July 1st. They set a “hold” rating for the company. Summit Redstone reiterated a “hold” rating and set a $15.00 price target on shares of Barracuda Networks in a research report on Saturday, July 2nd. DA Davidson reiterated a “neutral” rating and set a $15.50 price target on shares of Barracuda Networks in a research report on Wednesday, July 6th. Finally, Pacific Crest reiterated a “hold” rating on shares of Barracuda Networks in a research report on Thursday, July 7th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.79.
Barracuda Networks (NYSE:CUDA) traded up 12.452% during mid-day trading on Wednesday, hitting $26.235. The company had a trading volume of 4,358,171 shares. The company has a market cap of $1.37 billion, a PE ratio of 655.875 and a beta of 3.61. Barracuda Networks has a one year low of $9.44 and a one year high of $26.69. The company’s 50 day moving average price is $23.86 and its 200-day moving average price is $19.13.
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Barracuda Networks (NYSE:CUDA) last released its quarterly earnings data on Tuesday, October 11th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.08. Barracuda Networks had a negative return on equity of 33.60% and a net margin of 0.67%. The business earned $87.90 million during the quarter. During the same quarter in the prior year, the firm earned $0.10 EPS. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities research analysts anticipate that Barracuda Networks will post $0.57 EPS for the current fiscal year.
In related news, CFO David Faugno sold 25,000 shares of the company’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $19.90, for a total transaction of $497,500.00. 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 company’s stock in a transaction that occurred on Tuesday, November 8th. The shares were acquired at an average cost of $20.81 per share, for a total transaction of $83,240.00. The disclosure for this purchase can be found here. Corporate insiders own 39.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Algert Global LLC increased its position in shares of Barracuda Networks by 242.5% in the third quarter. Algert Global LLC now owns 41,130 shares of the company’s stock worth $1,048,000 after buying an additional 29,122 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Barracuda Networks by 47.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 75,644 shares of the company’s stock worth $1,146,000 after buying an additional 24,436 shares during the period. American Century Companies Inc. purchased a new position in shares of Barracuda Networks during the second quarter worth approximately $3,356,000. Metropolitan Life Insurance Co. NY purchased a new position in shares of Barracuda Networks during the second quarter worth approximately $250,000. Finally, Numeric Investors LLC purchased a new position in shares of Barracuda Networks during the second quarter worth approximately $321,000. 54.20% of the stock is currently owned by hedge funds and other institutional investors.
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.
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