Stifel Nicolaus Increases Barracuda Networks Inc. (CUDA) Price Target to $32.00
Barracuda Networks Inc. (NYSE:CUDA) had its price objective upped by equities research analysts at Stifel Nicolaus from $26.00 to $32.00 in a research note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 37.16% from the stock’s previous close.
A number of other analysts have also weighed in on the stock. Piper Jaffray Cos. upgraded shares of Barracuda Networks from a “neutral” rating to an “overweight” rating in a research note on Wednesday. Vetr upgraded shares of Barracuda Networks from a “sell” rating to a “hold” rating and set a $22.90 price objective for the company in a research note on Tuesday. Zacks Investment Research upgraded shares of Barracuda Networks from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective for the company in a research note on Friday, October 7th. DA Davidson restated an “underperform” rating and set a $19.50 price objective on shares of Barracuda Networks in a research note on Wednesday, October 5th. Finally, Imperial Capital lowered shares of Barracuda Networks from an “in-line” rating to an “underperform” rating and raised their price objective for the company from $17.00 to $20.00 in a research note on Tuesday, October 4th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Barracuda Networks currently has an average rating of “Hold” and a consensus target price of $21.32.
Barracuda Networks (NYSE:CUDA) opened at 23.33 on Wednesday. The stock’s 50 day moving average is $23.86 and its 200-day moving average is $19.13. The firm has a market cap of $1.22 billion, a price-to-earnings 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.
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 https://www.americanbankingnews.com/2016/10/12/stifel-nicolaus-increases-barracuda-networks-inc-cuda-price-target-to-32-00.html
Barracuda Networks (NYSE:CUDA) last released its quarterly earnings data on Tuesday, October 11th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. The business earned $87.90 million during the quarter. Barracuda Networks had a net margin of 0.67% and a negative return on equity of 33.60%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 earnings per share. On average, equities research analysts expect that Barracuda Networks will post $0.57 earnings per share for the current fiscal year.
In other 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 sale, the chief executive officer now owns 625,934 shares in the company, valued at $12,662,644.82. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO David Faugno sold 25,000 shares of Barracuda Networks stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $19.90, for a total transaction of $497,500.00. The disclosure for this sale can be found here. Company insiders own 39.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. boosted its stake in Barracuda Networks by 47.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 75,644 shares of the company’s stock valued at $1,146,000 after buying an additional 24,436 shares during the last quarter. American Century Companies Inc. bought a new stake in Barracuda Networks during the second quarter valued at about $3,356,000. Metropolitan Life Insurance Co. NY bought a new stake in Barracuda Networks during the second quarter valued at about $250,000. Numeric Investors LLC bought a new stake in Barracuda Networks during the second quarter valued at about $321,000. Finally, AHL Partners LLP bought a new stake in Barracuda Networks during the second quarter valued at about $158,000. 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.
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.