Barracuda Networks, Inc. (NYSE:CUDA)‘s stock had its “buy” rating restated by BTIG Research in a research report issued to clients and investors on Saturday. They presently have a $30.00 target price on the communications equipment provider’s stock. BTIG Research’s price target points to a potential upside of 29.42% from the company’s previous close.

CUDA has been the subject of several other research reports. Stifel Nicolaus reissued a “buy” rating and set a $32.00 price target on shares of Barracuda Networks in a report on Tuesday, April 18th. Zacks Investment Research raised shares of Barracuda Networks from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Thursday, July 13th. Pacific Crest reissued an “overweight” rating and issued a $30.00 price target on shares of Barracuda Networks in a report on Wednesday, June 28th. Rosenblatt Securities reissued a “buy” rating and issued a $30.00 price target on shares of Barracuda Networks in a report on Monday, June 26th. Finally, TheStreet upgraded Barracuda Networks from a “d” rating to a “c” rating in a report on Monday, April 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $26.59.

Barracuda Networks (CUDA) traded down 1.70% on Friday, hitting $23.18. 321,248 shares of the company were exchanged. The stock has a market cap of $1.23 billion, a PE ratio of 122.00 and a beta of 3.33. Barracuda Networks has a 52-week low of $19.06 and a 52-week high of $26.69. The firm has a 50 day moving average of $22.76 and a 200-day moving average of $22.76.

Barracuda Networks (NYSE:CUDA) last released its earnings results on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Barracuda Networks had a net margin of 2.81% and a negative return on equity of 1,770.56%. The firm had revenue of $94.18 million during the quarter, compared to analyst estimates of $91.18 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities analysts expect that Barracuda Networks will post $0.76 earnings per share for the current fiscal year.

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In related news, VP Diane Honda sold 7,026 shares of the stock in a transaction that occurred on Saturday, July 1st. The stock was sold at an average price of $22.89, for a total value of $160,825.14. Following the transaction, the vice president now owns 100,085 shares in the company, valued at $2,290,945.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael D. Perone sold 403,060 shares of the stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $24.13, for a total value of $9,725,837.80. Following the completion of the transaction, the director now owns 3,112,640 shares in the company, valued at approximately $75,108,003.20. The disclosure for this sale can be found here. Insiders sold 504,983 shares of company stock worth $12,136,578 in the last 90 days. 13.90% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the company. Highbridge Capital Management LLC bought a new stake in shares of Barracuda Networks during the fourth quarter worth about $307,000. Clearbridge Investments LLC boosted its stake in shares of Barracuda Networks by 0.8% in the first quarter. Clearbridge Investments LLC now owns 2,034,008 shares of the communications equipment provider’s stock worth $47,006,000 after buying an additional 16,324 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Barracuda Networks by 3.0% in the first quarter. American Century Companies Inc. now owns 286,968 shares of the communications equipment provider’s stock worth $6,632,000 after buying an additional 8,477 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Barracuda Networks by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 52,327 shares of the communications equipment provider’s stock worth $1,209,000 after buying an additional 621 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of Barracuda Networks by 981.4% in the fourth quarter. Teachers Advisors LLC now owns 379,655 shares of the communications equipment provider’s stock worth $8,136,000 after buying an additional 344,547 shares during the last quarter. 62.77% of the stock is owned by hedge funds and other institutional investors.

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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