Barracuda Networks Inc. (CUDA) Stock Rating Reaffirmed by Imperial Capital
Barracuda Networks Inc. (NYSE:CUDA)‘s stock had its “underweight” rating reissued by analysts at Imperial Capital in a note issued to investors on Thursday.
A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Barracuda Networks from a “hold” rating to a “strong-buy” rating and set a $27.00 target price for the company in a research report on Friday, October 7th. Summit Redstone reiterated a “hold” rating and set a $15.00 target price on shares of Barracuda Networks in a research report on Saturday, July 2nd. Vetr cut shares of Barracuda Networks from a “strong-buy” rating to a “buy” rating and set a $26.50 target price for the company. in a research report on Monday, September 19th. Piper Jaffray Cos. reiterated a “neutral” rating and set a $18.00 target price (up previously from $17.00) on shares of Barracuda Networks in a research report on Sunday, July 10th. Finally, DA Davidson cut shares of Barracuda Networks from a “neutral” rating to an “underperform” rating and increased their target price for the stock from $17.00 to $19.50 in a research report on Friday, August 12th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Barracuda Networks currently has a consensus rating of “Hold” and a consensus target price of $23.79.
Barracuda Networks (NYSE:CUDA) traded down 0.27% during mid-day trading on Thursday, hitting $25.40. 262,579 shares of the company were exchanged. The company has a 50 day moving average of $23.96 and a 200 day moving average of $19.17. Barracuda Networks has a 12-month low of $9.44 and a 12-month high of $26.69. The stock has a market cap of $1.32 billion, a P/E ratio of 635.00 and a beta of 3.61.
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Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings data on Tuesday, October 11th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. Barracuda Networks had a net margin of 2.03% and a negative return on equity of 50.65%. The company earned $87.90 million during the quarter. During the same quarter in the prior year, the company posted $0.10 EPS. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts expect that Barracuda Networks will post $0.57 earnings per share for the current fiscal year.
In other Barracuda Networks news, Director Gordon Stitt acquired 4,000 shares of the stock in a transaction dated Tuesday, November 8th. The shares were bought at an average cost of $20.81 per share, for a total transaction of $83,240.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael D. Hughes sold 5,000 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 $101,150.00. Following the completion of the sale, 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.
Several hedge funds have recently bought and sold shares of CUDA. Okumus Fund Management Ltd. acquired a new stake in Barracuda Networks during the first quarter worth about $68,773,000. Vanguard Group Inc. increased 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 worth $23,063,000 after buying an additional 47,118 shares during the period. Primecap Management Co. CA increased 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 worth $14,091,000 after buying an additional 250,000 shares during the period. BlackRock Institutional Trust Company N.A. increased 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 worth $8,704,000 after buying an additional 140,555 shares during the period. Finally, BlackRock Fund Advisors increased 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 worth $8,562,000 after buying an additional 330,942 shares during the period. Institutional investors own 54.20% of the company’s stock.
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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