Barracuda Networks Inc. (CUDA) Upgraded to “Buy” at Vetr Inc.
Barracuda Networks Inc. (NYSE:CUDA) was upgraded by research analysts at Vetr from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $26.02 price objective on the stock. Vetr‘s price objective points to a potential upside of 8.37% from the stock’s current price.
Several other analysts have also recently issued reports on CUDA. Imperial Capital reissued an “underweight” rating on shares of Barracuda Networks in a research note on Thursday, October 13th. Pacific Crest raised Barracuda Networks from a “sector weight” rating to an “overweight” rating and raised their target price for the stock from $23.27 to $30.00 in a research note on Tuesday, August 30th. DA Davidson set a $20.00 target price on Barracuda Networks and gave the stock a “sell” rating in a research note on Tuesday, October 4th. BTIG Research raised their target price on Barracuda Networks from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 12th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $23.00 target price (up from $19.00) on shares of Barracuda Networks in a research note on Wednesday, October 12th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Barracuda Networks currently has a consensus rating of “Hold” and a consensus target price of $24.77.
Shares of Barracuda Networks (NYSE:CUDA) traded down 4.15% during mid-day trading on Tuesday, hitting $24.01. The stock had a trading volume of 1,516,040 shares. The firm has a market cap of $1.25 billion, a PE ratio of 600.25 and a beta of 3.60. Barracuda Networks has a 52-week low of $9.44 and a 52-week high of $26.69. The stock’s 50-day moving average price is $24.27 and its 200-day moving average price is $19.48.
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 http://www.americanbankingnews.com/2016/10/19/barracuda-networks-inc-cuda-upgraded-to-buy-at-vetr-inc.html
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 the Zacks’ consensus estimate of $0.13 by $0.08. Barracuda Networks had a negative return on equity of 56.63% and a net margin of 2.03%. 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% compared to the same quarter last year. On average, analysts anticipate that Barracuda Networks will post $0.57 earnings per share for the current fiscal year.
In other Barracuda Networks news, Director Jeffry R. Allen sold 6,403 shares of the business’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $20.75, for a total transaction of $132,862.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael D. Hughes sold 5,000 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $22.22, for a total transaction of $111,100.00. Following the sale, the senior vice president now owns 109,513 shares of the company’s stock, valued at $2,433,378.86. The disclosure for this sale can be found here. 39.60% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Okumus Fund Management Ltd. bought a new stake in shares of Barracuda Networks during the first quarter worth $68,773,000. Spark Investment Management LLC bought a new stake in shares of Barracuda Networks during the first quarter worth $1,262,000. A.R.T. Advisors LLC raised its stake in shares of Barracuda Networks by 18.7% in the first quarter. A.R.T. Advisors LLC now owns 103,890 shares of the company’s stock worth $1,599,000 after buying an additional 16,400 shares in the last quarter. Jana Partners LLC bought a new stake in shares of Barracuda Networks during the first quarter worth $1,540,000. Finally, Prudential Financial Inc. bought a new stake in shares of Barracuda Networks during the first quarter worth $2,512,000. Institutional investors and hedge funds own 53.98% 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.
To view Vetr’s full report, visit Vetr’s official website.
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.