Barracuda Networks, Inc. (NYSE:CUDA)‘s stock had its “buy” rating reissued by stock analysts at Stifel Nicolaus in a report issued on Tuesday. They currently have a $32.00 target price on the communications equipment provider’s stock. Stifel Nicolaus’ price target indicates a potential upside of 32.51% from the stock’s current price.

A number of other research firms have also recently weighed in on CUDA. Piper Jaffray Companies restated an “overweight” rating and issued a $28.00 price target (down from $29.00) on shares of Barracuda Networks in a research note on Wednesday, July 12th. Robert W. Baird restated a “buy” rating on shares of Barracuda Networks in a research note on Tuesday, July 11th. Pacific Crest reiterated an “overweight” rating and set a $30.00 target price on shares of Barracuda Networks in a research report on Wednesday, June 28th. BidaskClub upgraded Barracuda Networks from a “strong sell” rating to a “sell” rating in a research report on Friday. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $30.00 target price on shares of Barracuda Networks in a research report on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $26.59.

Shares of Barracuda Networks (CUDA) traded down 0.12% during midday trading on Tuesday, reaching $24.12. The company’s stock had a trading volume of 66,685 shares. Barracuda Networks has a one year low of $19.06 and a one year high of $26.69. The company has a market capitalization of $1.28 billion, a P/E ratio of 126.95 and a beta of 3.28. The stock’s 50-day moving average is $23.30 and its 200-day moving average is $22.69.

Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings data on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $94.18 million for the quarter, compared to analysts’ expectations of $91.18 million. Barracuda Networks had a negative return on equity of 1,770.56% and a net margin of 2.81%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the firm earned $0.20 earnings per share. 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 company’s stock in a transaction on Saturday, July 1st. The shares were sold at an average price of $22.89, for a total transaction of $160,825.14. Following the completion of the sale, the vice president now directly owns 100,085 shares of the company’s stock, valued at approximately $2,290,945.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William D. Jenkins, Jr. sold 80,612 shares of the company’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $24.02, for a total transaction of $1,936,300.24. Following the sale, the chief executive officer now directly owns 621,108 shares of the company’s stock, valued at $14,919,014.16. The disclosure for this sale can be found here. Insiders sold a total of 1,314,772 shares of company stock valued at $31,689,703 over the last quarter. 13.90% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its position in Barracuda Networks by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,793 shares of the communications equipment provider’s stock valued at $111,000 after buying an additional 717 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in Barracuda Networks in the 2nd quarter valued at about $113,000. Legal & General Group Plc boosted its position in Barracuda Networks by 15.7% in the 2nd quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider’s stock valued at $140,000 after buying an additional 828 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in Barracuda Networks by 2.9% in the 1st 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. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in Barracuda Networks by 17.6% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,374 shares of the communications equipment provider’s stock valued at $167,000 after buying an additional 1,104 shares during the last quarter. 65.98% of the stock is 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.

Analyst Recommendations for Barracuda Networks (NYSE:CUDA)

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