Barracuda Networks, Inc. (NYSE:CUDA) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Friday.

Other equities research analysts also recently issued reports about the company. Robert W. Baird restated a “buy” rating on shares of Barracuda Networks in a research report on Tuesday, July 11th. Northland Securities restated a “buy” rating and issued a $28.00 target price on shares of Barracuda Networks in a research report on Friday, June 30th. Rosenblatt Securities restated a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a research report on Monday, June 26th. Stifel Nicolaus restated a “buy” rating and issued a $32.00 target price on shares of Barracuda Networks in a research report on Tuesday, April 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $28.00 target price on shares of Barracuda Networks in a research report on Wednesday, April 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Barracuda Networks presently has a consensus rating of “Buy” and a consensus price target of $26.59.

Shares of Barracuda Networks (CUDA) traded up 8.34% during trading on Friday, reaching $23.63. The company had a trading volume of 2,246,563 shares. The stock has a market capitalization of $1.25 billion, a PE ratio of 124.37 and a beta of 3.30. Barracuda Networks has a 12 month low of $19.06 and a 12 month high of $26.69. The stock’s 50-day moving average price is $23.02 and its 200-day moving average price is $22.72.

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, hitting analysts’ consensus estimates of $0.18. The firm had revenue of $94.18 million during the quarter, compared to the consensus estimate of $91.18 million. Barracuda Networks had a negative return on equity of 1,770.56% and a net margin of 2.81%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 earnings per share. Equities analysts forecast that Barracuda Networks will post $0.76 earnings per share for the current fiscal year.

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In other Barracuda Networks news, CFO Dustin Driggs sold 1,250 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $22.63, for a total transaction of $28,287.50. Following the transaction, the chief financial officer now directly owns 105,471 shares of the company’s stock, valued at $2,386,808.73. The transaction was disclosed in a document filed 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 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 in the company, valued at $75,108,003.20. The disclosure for this sale can be found here. Insiders sold 501,766 shares of company stock worth $12,073,560 over the last ninety days. 13.90% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of CUDA. State Street Corp increased its stake in shares of Barracuda Networks by 3.5% in the fourth quarter. State Street Corp now owns 469,832 shares of the communications equipment provider’s stock valued at $10,068,000 after buying an additional 15,785 shares in the last quarter. Teachers Advisors LLC increased 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 valued at $8,136,000 after buying an additional 344,547 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Barracuda Networks during the fourth quarter valued at about $307,000. Bank of Montreal Can increased its stake in shares of Barracuda Networks by 29.9% in the first quarter. Bank of Montreal Can now owns 152,014 shares of the communications equipment provider’s stock valued at $3,514,000 after buying an additional 34,973 shares in the last quarter. Finally, Fox Run Management L.L.C. increased its stake in shares of Barracuda Networks by 130.5% in the first quarter. Fox Run Management L.L.C. now owns 32,500 shares of the communications equipment provider’s stock valued at $751,000 after buying an additional 18,400 shares in the last quarter. 63.70% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Barracuda Networks (NYSE:CUDA)

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