Barracuda Networks Inc. (CUDA) PT Raised to $28.00 at BTIG Research
Barracuda Networks Inc. (NYSE:CUDA) had its price objective upped by stock analysts at BTIG Research from $26.00 to $28.00 in a report issued on Wednesday. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price objective indicates a potential upside of 20.02% from the company’s previous close.
Other equities analysts have also recently issued research reports about the stock. Rosenblatt Securities started coverage on shares of Barracuda Networks in a report on Monday, August 1st. They issued a “buy” rating and a $30.00 target price on the stock. Zacks Investment Research raised Barracuda Networks from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Friday, July 8th. Vetr cut Barracuda Networks from a “strong-buy” rating to a “buy” rating and set a $24.75 price target on the stock. in a report on Wednesday, August 24th. Stifel Nicolaus lifted their price target on Barracuda Networks from $26.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Morgan Stanley lifted their price target on Barracuda Networks from $19.00 to $23.00 and gave the company an “equal weight” rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.26.
Shares of Barracuda Networks (NYSE:CUDA) opened at 23.33 on Wednesday. The firm has a market cap of $1.22 billion, a PE ratio of 583.25 and a beta of 3.61. Barracuda Networks has a one year low of $9.44 and a one year high of $25.77. The firm’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 issued its earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ 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 had revenue of $87.90 million for the quarter. During the same period in the prior year, the business earned $0.10 EPS. The business’s revenue was up 12.1% on a year-over-year basis. Equities research analysts expect that Barracuda Networks will post $0.57 earnings per share for the current fiscal year.
In other Barracuda Networks news, CEO William D. Jenkins, Jr. sold 4,000 shares of Barracuda Networks stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $20.23, for a total transaction of $80,920.00. Following the transaction, the chief executive officer now directly owns 625,934 shares in the company, valued at approximately $12,662,644.82. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael D. Hughes sold 5,000 shares of Barracuda Networks stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $20.23, for a total transaction of $101,150.00. Following the transaction, the senior vice president now owns 114,513 shares in the company, valued at $2,316,597.99. The disclosure for this sale can be found here. Company insiders own 39.60% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in Barracuda Networks by 69.3% in the second quarter. Bank of New York Mellon Corp now owns 81,445 shares of the company’s stock valued at $1,232,000 after buying an additional 33,349 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of Barracuda Networks during the second quarter worth about $3,356,000. Strs Ohio raised its stake in shares of Barracuda Networks by 23.1% in the second quarter. Strs Ohio now owns 95,936 shares of the company’s stock worth $1,452,000 after buying an additional 18,000 shares during the period. Bank of Montreal Can bought a new stake in shares of Barracuda Networks during the second quarter worth about $232,000. Finally, Hershey Trust Co. raised its stake in shares of Barracuda Networks by 106.9% in the second quarter. Hershey Trust Co. now owns 19,827 shares of the company’s stock worth $300,000 after buying an additional 10,245 shares during the period. 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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