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

Other equities analysts have also recently issued reports about the company. Robert W. Baird reaffirmed a “buy” rating on shares of Barracuda Networks in a report on Tuesday, July 11th. Stifel Nicolaus reiterated a “buy” rating and issued a $32.00 price target on shares of Barracuda Networks in a research note on Wednesday, July 19th. Imperial Capital lifted their price target on Barracuda Networks from $20.00 to $21.00 and gave the company an “in-line” rating in a research note on Wednesday, July 12th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $28.00 price target (down previously from $29.00) on shares of Barracuda Networks in a research note on Wednesday, July 12th. Finally, BTIG Research restated a “buy” rating and set a $30.00 price objective on shares of Barracuda Networks in a research report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $26.59.

Barracuda Networks (NYSE CUDA) traded up 1.08% during midday trading on Friday, reaching $24.40. The company had a trading volume of 156,036 shares. The company has a market cap of $1.29 billion, a PE ratio of 128.42 and a beta of 3.28. Barracuda Networks has a 52-week low of $19.06 and a 52-week high of $26.69. The company’s 50-day moving average is $23.28 and its 200 day moving average is $22.70.

Barracuda Networks (NYSE:CUDA) last released its quarterly earnings data on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.18. Barracuda Networks had a negative return on equity of 1,770.56% and a net margin of 2.81%. The company had revenue of $94.18 million during the quarter, compared to analysts’ expectations of $91.18 million. During the same period last year, the firm posted $0.20 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. On average, equities research analysts forecast that Barracuda Networks will post $0.76 EPS for the current year.

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In related news, VP Diane Honda sold 7,026 shares of the company’s stock in a transaction that occurred on Saturday, July 1st. The stock was sold at an average price of $22.89, for a total transaction of $160,825.14. Following the transaction, the vice president now directly owns 100,085 shares of the company’s stock, valued at approximately $2,290,945.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael D. Perone sold 269,352 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $24.17, for a total value of $6,510,237.84. Following the transaction, the director now directly owns 2,833,027 shares in the company, valued at $68,474,262.59. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,178,162 shares of company stock worth $28,371,489. 13.90% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Gotham Asset Management LLC raised its stake in Barracuda Networks by 2.5% during the 1st 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 during the period. Atria Investments LLC acquired a new position in Barracuda Networks during the 2nd quarter worth approximately $204,000. Clearbridge Investments LLC raised its stake in Barracuda Networks by 0.8% during the 1st 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 period. AlphaMark Advisors LLC raised its stake in Barracuda Networks by 63.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 44,200 shares of the communications equipment provider’s stock worth $1,019,000 after buying an additional 17,200 shares during the period. Finally, Ameriprise Financial Inc. acquired a new position in Barracuda Networks during the 1st quarter worth approximately $4,867,000. 65.98% of the stock is currently owned by institutional investors and hedge funds.

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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