Barracuda Networks Inc. (CUDA) Price Target Raised to $30.00
Barracuda Networks Inc. (NYSE:CUDA) had its target price lifted by research analysts at BWS Financial to $30.00 in a report released on Wednesday. BWS Financial’s price target would suggest a potential upside of 17.79% from the company’s current price.
Other analysts have also issued research reports about the stock. JMP Securities reiterated a “sell” rating on shares of Barracuda Networks in a research note on Saturday, July 9th. Stifel Nicolaus boosted their target price on shares of Barracuda Networks from $26.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday. Piper Jaffray Cos. upgraded shares of Barracuda Networks from a “neutral” rating to an “overweight” rating and set a $32.00 target price for the company in a research note on Wednesday. Morgan Stanley boosted their target price on shares of Barracuda Networks from $19.00 to $23.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, BTIG Research boosted their target price on shares of Barracuda Networks from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $23.79.
Shares of Barracuda Networks (NYSE:CUDA) traded up 9.17% during mid-day trading on Wednesday, hitting $25.47. 7,126,263 shares of the company traded hands. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 636.75 and a beta of 3.61. The firm has a 50-day moving average price of $23.86 and a 200 day moving average price of $19.13. Barracuda Networks has a 52-week low of $9.44 and a 52-week high of $26.69.
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Barracuda Networks (NYSE:CUDA) last released its earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.08. Barracuda Networks had a net margin of 0.67% and a negative return on equity of 33.60%. The firm earned $87.90 million during the quarter. During the same quarter in the previous year, the firm earned $0.10 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities research analysts anticipate that Barracuda Networks will post $0.57 EPS for the current fiscal year.
In other Barracuda Networks news, CFO David Faugno sold 25,000 shares of the company’s stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $19.90, for a total value of $497,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael D. Hughes sold 5,000 shares of the company’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $20.23, for a total transaction of $101,150.00. Following the completion of the sale, the senior vice president now directly owns 114,513 shares of the company’s stock, valued at $2,316,597.99. The disclosure for this sale can be found here. 39.60% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. US Bancorp DE increased its stake in shares of 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 during the last quarter. BlackRock Advisors LLC increased its stake in shares of 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 during the last quarter. AHL Partners LLP acquired a new stake in shares of Barracuda Networks during the second quarter worth $158,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Barracuda Networks during the second quarter worth $179,000. Finally, Algert Global LLC acquired a new stake in shares of Barracuda Networks during the second quarter worth $182,000. 54.20% of the stock is owned by 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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