Barracuda Networks, Inc. (NYSE:CUDA)‘s stock had its “buy” rating restated by research analysts at Northland Securities in a report issued on Friday. They currently have a $28.00 target price on the communications equipment provider’s stock. Northland Securities’ price target indicates a potential upside of 21.95% from the company’s previous close.

Several other research firms also recently issued reports on CUDA. Needham & Company LLC reissued a “buy” rating and issued a $28.00 target price on shares of Barracuda Networks in a research report on Wednesday, April 19th. Robert W. Baird reissued a “buy” rating on shares of Barracuda Networks in a research report on Tuesday, April 18th. Zacks Investment Research downgraded Barracuda Networks from a “buy” rating to a “hold” rating in a research report on Thursday, March 2nd. Rosenblatt Securities reissued a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a research report on Wednesday, April 19th. Finally, Piper Jaffray Companies cut their target price on Barracuda Networks from $32.00 to $29.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 19th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Barracuda Networks has a consensus rating of “Buy” and an average target price of $26.78.

Shares of Barracuda Networks (CUDA) traded down 0.43% during mid-day trading on Friday, reaching $22.96. The company’s stock had a trading volume of 341,106 shares. The firm’s 50 day moving average is $22.41 and its 200 day moving average is $22.65. Barracuda Networks has a one year low of $14.48 and a one year high of $26.69. The firm has a market cap of $1.22 billion, a PE ratio of 120.84 and a beta of 3.32.

Barracuda Networks (NYSE:CUDA) last released its earnings results on Monday, April 17th. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.04. Barracuda Networks had a negative return on equity of 224.23% and a net margin of 2.90%. The firm had revenue of $89.26 million for the quarter, compared to the consensus estimate of $88.39 million. During the same period in the prior year, the firm earned $0.15 EPS. The firm’s revenue was up 6.6% on a year-over-year basis. On average, equities analysts anticipate that Barracuda Networks will post $0.77 earnings per share for the current fiscal year.

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In other news, SVP Michael D. Hughes sold 4,468 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $22.55, for a total transaction of $100,753.40. Following the sale, the senior vice president now directly owns 163,875 shares of the company’s stock, valued at approximately $3,695,381.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Diane Honda sold 2,101 shares of the stock in a transaction dated Wednesday, April 12th. The stock was sold at an average price of $23.46, for a total transaction of $49,289.46. Following the sale, the vice president now directly owns 54,896 shares in the company, valued at $1,287,860.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,786 shares of company stock worth $325,886. Corporate insiders own 13.90% of the company’s stock.

Several large investors have recently bought and sold shares of CUDA. Asset Management One Co. Ltd. raised its stake 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 valued at $146,000 after buying an additional 177 shares during the last quarter. Acrospire Investment Management LLC increased 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 valued at $159,000 after buying an additional 600 shares during the period. US Bancorp DE increased 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 valued at $191,000 after buying an additional 5,188 shares during the period. Paloma Partners Management Co bought a new position in Barracuda Networks during the first quarter valued at $223,000. Finally, LGL Partners LLC bought a new position in Barracuda Networks during the first quarter valued at $232,000. 62.81% of the stock is currently owned by institutional investors and hedge funds.

About Barracuda Networks

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.

Analyst Recommendations for Barracuda Networks (NYSE:CUDA)

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