Imperial Capital Analysts Give Barracuda Networks Inc. (CUDA) a $20.00 Price Target
Barracuda Networks Inc. (NYSE:CUDA) received a $20.00 price target from analysts at Imperial Capital in a research report issued to clients and investors on Wednesday. The brokerage presently has a a “sell” rating on the stock. Imperial Capital’s price objective would indicate a potential downside of 21.48% from the company’s previous close.
A number of other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Barracuda Networks from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective on the stock in a research note on Friday, October 7th. Summit Redstone reissued a “hold” rating and set a $15.00 price target on shares of Barracuda Networks in a research report on Saturday, July 2nd. Vetr lowered shares of Barracuda Networks from a “strong-buy” rating to a “buy” rating and set a $26.50 price target on the stock. in a research report on Monday, September 19th. Piper Jaffray Cos. reissued a “neutral” rating and set a $18.00 price target (up from $17.00) on shares of Barracuda Networks in a research report on Sunday, July 10th. Finally, DA Davidson lowered shares of Barracuda Networks from a “neutral” rating to an “underperform” rating and raised their price target for the company from $17.00 to $19.50 in a research report on Friday, August 12th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $23.94.
Barracuda Networks (NYSE:CUDA) traded up 3.318% during mid-day trading on Wednesday, reaching $26.315. 1,334,660 shares of the company’s stock 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 52-week low of $9.44 and a 52-week high of $26.69. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 657.875 and a beta of 3.61.
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/2016/10/13/imperial-capital-analysts-give-barracuda-networks-inc-cuda-a-20-00-price-target.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. Barracuda Networks had a net margin of 2.03% and a negative return on equity of 50.65%. The firm had revenue of $87.90 million for the quarter. During the same period last year, the business posted $0.10 earnings per share. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. Equities research analysts anticipate that Barracuda Networks will post $0.57 earnings per share for the current year.
In other news, SVP Michael D. Hughes sold 4,468 shares of Barracuda Networks stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $25.05, for a total value of $111,923.40. Following the completion of the transaction, the senior vice president now owns 113,971 shares in the company, valued at $2,854,973.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Dean M. Drako sold 3,768 shares of Barracuda Networks stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $22.01, for a total transaction of $82,933.68. The disclosure for this sale can be found here. 39.60% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of CUDA. Okumus Fund Management Ltd. acquired a new position in Barracuda Networks during the first quarter valued at $68,773,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Barracuda Networks during the second quarter valued at approximately $6,264,000. BlackRock Fund Advisors boosted its position in shares of 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. State Street Corp boosted its position in shares of Barracuda Networks by 223.6% in the second quarter. State Street Corp now owns 410,761 shares of the company’s stock valued at $6,219,000 after buying an additional 283,843 shares in the last quarter. Finally, Primecap Management Co. CA boosted its position in shares of 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. Hedge funds and other 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.
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.