Barracuda Networks Inc. (CUDA) PT Set at $22.00 by DA Davidson
Barracuda Networks Inc. (NYSE:CUDA) has been assigned a $22.00 price target by stock analysts at DA Davidson in a report released on Wednesday. The firm presently has a a “sell” rating on the stock. DA Davidson’s price objective suggests a potential downside of 13.62% from the stock’s current price.
A number of other analysts have also weighed in on the stock. BWS Financial upped their target price on shares of Barracuda Networks to $30.00 in a report on Wednesday. Zacks Investment Research raised shares of Barracuda Networks from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Friday, July 8th. BTIG Research reaffirmed a “buy” rating and set a $20.00 target price on shares of Barracuda Networks in a report on Friday, July 8th. Rosenblatt Securities initiated coverage on shares of Barracuda Networks in a report on Monday, August 1st. They set a “buy” rating and a $30.00 target price on the stock. Finally, Vetr lowered shares of Barracuda Networks from a “strong-buy” rating to a “buy” rating and set a $24.75 target price on the stock. in a report on Wednesday, August 24th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $23.94.
Barracuda Networks (NYSE:CUDA) traded up 2.55% on Wednesday, reaching $26.12. 1,437,055 shares of the company traded hands. The stock has a 50-day moving average of $23.96 and a 200 day moving average of $19.17. Barracuda Networks has a 52-week low of $9.44 and a 52-week high of $26.69. The company has a market capitalization of $1.36 billion, a PE ratio of 653.00 and a beta of 3.61.
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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 Zacks’ consensus estimate of $0.13 by $0.08. The firm had revenue of $87.90 million for the quarter. Barracuda Networks had a net margin of 2.03% and a negative return on equity of 50.65%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 earnings per share. On average, equities analysts forecast that Barracuda Networks will post $0.57 EPS for the current year.
In other Barracuda Networks news, major shareholder Dean M. Drako sold 93,585 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $22.15, for a total transaction of $2,072,907.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William D. Jenkins, Jr. sold 4,000 shares of the stock in a transaction 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 directly owns 625,934 shares of the company’s stock, valued at approximately $12,662,644.82. The disclosure for this sale can be found here. Company insiders own 39.60% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Okumus Fund Management Ltd. bought a new stake in Barracuda Networks during the first quarter valued at approximately $68,773,000. Vanguard Group Inc. boosted its stake in Barracuda Networks by 3.2% in the second quarter. Vanguard Group Inc. now owns 1,523,258 shares of the company’s stock valued at $23,063,000 after buying an additional 47,118 shares in the last quarter. Primecap Management Co. CA boosted its stake in Barracuda Networks by 37.6% in the first quarter. Primecap Management Co. CA now owns 915,000 shares of the company’s stock valued at $14,091,000 after buying an additional 250,000 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Barracuda Networks by 32.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 574,917 shares of the company’s stock valued at $8,704,000 after buying an additional 140,555 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its stake in Barracuda Networks by 141.1% in the second quarter. BlackRock Fund Advisors now owns 565,490 shares of the company’s stock valued at $8,562,000 after buying an additional 330,942 shares in the last quarter. 54.20% of the stock is owned by institutional investors and hedge funds.
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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