Barracuda Networks Inc. (CUDA) PT Set at $20.00 by Imperial Capital
Barracuda Networks Inc. (NYSE:CUDA) has been given a $20.00 target price by stock analysts at Imperial Capital in a research note issued to investors on Wednesday. The brokerage currently has a a “sell” rating on the stock. Imperial Capital’s target price points to a potential downside of 21.48% from the stock’s current price.
Other equities research analysts also recently issued research reports about the company. JMP Securities reissued a “sell” rating on shares of Barracuda Networks in a report on Saturday, July 9th. Summit Research began coverage on Barracuda Networks in a report on Friday, July 1st. They set a “hold” rating on the stock. Summit Redstone reaffirmed a “hold” rating and set a $15.00 target price on shares of Barracuda Networks in a report on Saturday, July 2nd. DA Davidson downgraded Barracuda Networks from a “neutral” rating to an “underperform” rating and lifted their target price for the stock from $17.00 to $19.50 in a report on Friday, August 12th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Barracuda Networks from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Three 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. The company presently has an average rating of “Hold” and an average price target of $23.94.
Shares of Barracuda Networks (NYSE:CUDA) traded up 2.55% during midday trading on Wednesday, hitting $26.12. The company’s stock had a trading volume of 1,437,055 shares. The company has a market cap of $1.36 billion, a P/E ratio of 653.00 and a beta of 3.61. The company has a 50-day moving average price of $23.96 and a 200 day moving average price of $19.17. Barracuda Networks has a 1-year low of $9.44 and a 1-year high of $26.69.
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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 for the quarter, beating the Thomson Reuters’ consensus estimate 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 last year, the business earned $0.10 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts predict that Barracuda Networks will post $0.57 EPS for the current year.
In other news, SVP Michael D. Hughes sold 4,468 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $25.05, for a total value of $111,923.40. Following the transaction, the senior vice president now owns 113,971 shares in the company, valued at approximately $2,854,973.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Dean M. Drako sold 3,768 shares of the business’s stock in a transaction that occurred on 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. Company insiders own 39.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in CUDA. US Bancorp DE increased its position 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 position 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 position in shares of Barracuda Networks during the second quarter worth $158,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Barracuda Networks during the second quarter worth $179,000. Finally, Algert Global LLC acquired a new position in shares of Barracuda Networks during the second quarter worth $182,000. 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.
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