Equities analysts forecast that Barracuda Networks Inc (NYSE:CUDA) will announce $91.31 million in sales for the current quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Barracuda Networks’ earnings. The lowest sales estimate is $90.05 million and the highest is $91.89 million. Barracuda Networks reported sales of $86.65 million in the same quarter last year, which indicates a positive year over year growth rate of 5.4%. The company is scheduled to report its next quarterly earnings results on Thursday, July 6th.

On average, analysts expect that Barracuda Networks will report full-year sales of $91.31 million for the current financial year, with estimates ranging from $371.29 million to $381.00 million. For the next fiscal year, analysts forecast that the company will post sales of $409.73 million per share, with estimates ranging from $400.30 million to $425.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Barracuda Networks.

Barracuda Networks (NYSE:CUDA) last released its quarterly earnings data on Monday, April 17th. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.04. The firm had revenue of $89.26 million during the quarter, compared to analysts’ expectations of $88.39 million. Barracuda Networks had a negative return on equity of 101.22% and a net margin of 2.95%. Barracuda Networks’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 earnings per share.

Several research firms have issued reports on CUDA. Robert W. Baird restated a “buy” rating on shares of Barracuda Networks in a report on Tuesday, February 21st. Vetr upgraded Barracuda Networks from a “buy” rating to a “strong-buy” rating and set a $26.50 price objective on the stock in a report on Wednesday, March 1st. Zacks Investment Research downgraded Barracuda Networks from a “buy” rating to a “hold” rating in a report on Thursday, March 2nd. DA Davidson dropped their price objective on Barracuda Networks from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, April 18th. Finally, Stifel Nicolaus restated a “buy” rating and set a $32.00 price objective on shares of Barracuda Networks in a report on Tuesday, April 18th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $25.97.

Barracuda Networks (CUDA) traded up 0.44% on Thursday, reaching $22.77. The company’s stock had a trading volume of 188,252 shares. Barracuda Networks has a 52-week low of $13.91 and a 52-week high of $26.69. The firm has a market capitalization of $1.21 billion, a P/E ratio of 119.84 and a beta of 3.43. The firm has a 50-day moving average price of $21.56 and a 200 day moving average price of $22.73.

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In related news, CFO Dustin Driggs sold 1,250 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $22.02, for a total transaction of $27,525.00. Following the completion of the transaction, the chief financial officer now owns 105,467 shares in the company, valued at approximately $2,322,383.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Diane Honda sold 2,101 shares of the business’s stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $23.46, for a total value of $49,289.46. Following the transaction, the vice president now owns 54,896 shares of the company’s stock, valued at approximately $1,287,860.16. The disclosure for this sale can be found here. Insiders have sold a total of 19,254 shares of company stock valued at $424,852 in the last 90 days. Insiders own 39.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Asset Management One Co. Ltd. raised its position in Barracuda Networks by 2.9% in the first quarter. Asset Management One Co. Ltd. now owns 6,276 shares of the communications equipment provider’s stock worth $146,000 after buying an additional 177 shares in the last quarter. Acrospire Investment Management LLC raised its position in Barracuda Networks by 9.5% in the first quarter. Acrospire Investment Management LLC now owns 6,900 shares of the communications equipment provider’s stock worth $159,000 after buying an additional 600 shares in the last quarter. US Bancorp DE raised its position in Barracuda Networks by 170.8% in the first quarter. US Bancorp DE now owns 8,226 shares of the communications equipment provider’s stock worth $191,000 after buying an additional 5,188 shares in the last quarter. Paloma Partners Management Co bought a new position in Barracuda Networks during the first quarter worth about $223,000. Finally, LGL Partners LLC bought a new position in Barracuda Networks during the first quarter worth about $232,000. Institutional investors and hedge funds own 57.17% of the company’s stock.

Barracuda Networks Company Profile

Barracuda Networks, Inc designs and delivers security and data protection solutions. The Company offers cloud-enabled solutions that enable customers to address security threats, manage network performance, and protect and store their data. Its solutions are designed to manage information technology operations for its customers.

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