Barracuda Networks Inc. (CUDA) Earns “Underweight” Rating from Imperial Capital
Barracuda Networks Inc. (NYSE:CUDA)‘s stock had its “underweight” rating restated by research analysts at Imperial Capital in a report released on Thursday.
CUDA has been the topic of a number of other reports. Vetr lowered Barracuda Networks from a “strong-buy” rating to a “buy” rating and set a $26.50 target price on the stock. in a research report on Monday, September 19th. JMP Securities upped their target price on Barracuda Networks from $13.00 to $15.00 and gave the stock a “market underperform” rating in a research report on Wednesday. Stifel Nicolaus upped their target price on Barracuda Networks from $26.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday. BWS Financial upped their target price on Barracuda Networks to $30.00 in a research report on Wednesday. Finally, Zacks Investment Research upgraded Barracuda Networks from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Friday, July 8th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Barracuda Networks presently has an average rating of “Hold” and an average target price of $23.79.
Shares of Barracuda Networks (NYSE:CUDA) traded down 0.7362% during midday trading on Thursday, reaching $25.2825. The company’s stock had a trading volume of 243,559 shares. Barracuda Networks has a one year low of $9.44 and a one year high of $26.69. The firm has a 50-day moving average of $23.96 and a 200-day moving average of $19.17. The stock has a market cap of $1.32 billion, a PE ratio of 632.0625 and a beta of 3.61.
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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 for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. Barracuda Networks had a negative return on equity of 50.65% and a net margin of 2.03%. The company had revenue of $87.90 million for the quarter. During the same period in the previous year, the company earned $0.10 earnings per share. Barracuda Networks’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, analysts forecast that Barracuda Networks will post $0.57 EPS for the current year.
In related news, Director Gordon Stitt acquired 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The shares were acquired at an average price of $20.81 per share, with a total value of $83,240.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Dean M. Drako sold 3,768 shares of the stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $22.01, for a total value of $82,933.68. The disclosure for this sale can be found here. Corporate insiders own 39.60% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Parametric Portfolio Associates LLC boosted its stake in shares of Barracuda Networks by 0.7% in the second quarter. Parametric Portfolio Associates LLC now owns 38,620 shares of the company’s stock worth $585,000 after buying an additional 271 shares during the period. Geode Capital Management LLC boosted its stake in Barracuda Networks by 1.1% in the first quarter. Geode Capital Management LLC now owns 127,648 shares of the company’s stock valued at $1,964,000 after buying an additional 1,373 shares during the last quarter. BlackRock Advisors LLC boosted its stake in Barracuda Networks by 60.8% in the second quarter. BlackRock Advisors LLC now owns 10,312 shares of the company’s stock valued at $156,000 after buying an additional 3,900 shares during the last quarter. US Bancorp DE boosted its stake in Barracuda Networks by 199.2% in the second quarter. US Bancorp DE now owns 7,057 shares of the company’s stock valued at $107,000 after buying an additional 4,698 shares during the last quarter. Finally, American International Group Inc. boosted its stake in Barracuda Networks by 166.8% in the second quarter. American International Group Inc. now owns 12,670 shares of the company’s stock valued at $192,000 after buying an additional 7,922 shares during the last quarter. 54.20% of the stock is currently owned by institutional investors and hedge funds.
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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