$0.07 Earnings Per Share Expected for Barracuda Networks, Inc. (CUDA) This Quarter
Wall Street analysts forecast that Barracuda Networks, Inc. (NYSE:CUDA) will post earnings of $0.07 per share for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Barracuda Networks’ earnings, with the lowest EPS estimate coming in at $0.06 and the highest estimate coming in at $0.08. Barracuda Networks posted earnings per share of $0.06 during the same quarter last year, which indicates a positive year-over-year growth rate of 16.7%. The business is expected to report its next quarterly earnings report on Tuesday, October 10th.
On average, analysts expect that Barracuda Networks will report full year earnings of $0.35 per share for the current fiscal year, with EPS estimates ranging from $0.31 to $0.38. For the next financial year, analysts anticipate that the firm will post earnings of $0.44 per share, with EPS estimates ranging from $0.38 to $0.49. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Barracuda Networks.
Barracuda Networks (NYSE:CUDA) last released its quarterly earnings results on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $94.18 million for the quarter, compared to analysts’ expectations of $91.18 million. Barracuda Networks had a net margin of 2.81% and a negative return on equity of 1,770.56%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.20 earnings per share.
Several brokerages recently commented on CUDA. Stifel Nicolaus reiterated a “buy” rating and set a $32.00 price target on shares of Barracuda Networks in a report on Wednesday, July 19th. Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of Barracuda Networks in a research note on Wednesday, April 19th. Robert W. Baird restated a “buy” rating on shares of Barracuda Networks in a research note on Tuesday, April 18th. Northland Securities reiterated a “buy” rating and issued a $28.00 price objective on shares of Barracuda Networks in a research note on Friday, June 30th. Finally, BTIG Research reissued a “buy” rating and set a $30.00 price target on shares of Barracuda Networks in a report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $26.59.
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Barracuda Networks (NYSE:CUDA) traded up 0.0136% on Wednesday, reaching $23.5132. The company had a trading volume of 16,451 shares. The stock’s 50 day moving average price is $22.77 and its 200-day moving average price is $22.77. The stock has a market capitalization of $1.25 billion, a PE ratio of 123.7537 and a beta of 3.33. Barracuda Networks has a 12-month low of $19.06 and a 12-month high of $26.69.
In other news, Director Michael D. Perone sold 403,060 shares of the firm’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $24.13, for a total transaction of $9,725,837.80. Following the transaction, the director now directly owns 3,112,640 shares of the company’s stock, valued at $75,108,003.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William D. Jenkins, Jr. sold 80,612 shares of the firm’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $24.02, for a total value of $1,936,300.24. Following the transaction, the chief executive officer now directly owns 621,108 shares in the company, valued at $14,919,014.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 504,983 shares of company stock valued at $12,136,578. Corporate insiders own 13.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Highbridge Capital Management LLC purchased a new position in Barracuda Networks during the fourth quarter worth about $307,000. Clearbridge Investments LLC boosted its position 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 in the last quarter. American Century Companies Inc. boosted its position 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its position 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 in the last quarter. Finally, Gotham Asset Management LLC boosted its position in shares of Barracuda Networks by 2.5% in the first quarter. Gotham Asset Management LLC now owns 35,109 shares of the communications equipment provider’s stock worth $811,000 after buying an additional 871 shares in the last quarter. 63.68% of the stock is currently owned by 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.
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