Shares of Barracuda Networks, Inc. (NYSE:CUDA) have been assigned an average rating of “Buy” from the twenty analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $26.46.

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $32.00 price target on shares of Barracuda Networks in a research note on Tuesday. Piper Jaffray Companies reissued 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 reissued a “buy” rating on shares of Barracuda Networks in a research note on Tuesday, July 11th. Pacific Crest reissued an “overweight” rating and issued a $30.00 price target on shares of Barracuda Networks in a research note on Wednesday, June 28th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $30.00 price target on shares of Barracuda Networks in a research note on Monday, June 26th.

Shares of Barracuda Networks (NYSE CUDA) traded up 0.74% during mid-day trading on Friday, reaching $24.53. The company had a trading volume of 2,952,615 shares. Barracuda Networks has a 12-month low of $19.06 and a 12-month high of $26.69. The firm has a 50-day moving average of $23.44 and a 200-day moving average of $22.73. The company has a market capitalization of $1.30 billion, a P/E ratio of 129.11 and a beta of 3.28.

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

In other Barracuda Networks news, Director Michael D. Perone sold 403,060 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $24.13, for a total transaction of $9,725,837.80. Following the completion of the transaction, the director now owns 3,112,640 shares of the company’s stock, valued at $75,108,003.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dustin Driggs sold 1,250 shares of the firm’s stock in a transaction that occurred 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 approximately $2,386,808.73. The disclosure for this sale can be found here. Insiders have sold 1,679,330 shares of company stock valued at $40,539,426 in the last ninety days. Insiders own 13.90% of the company’s stock.

Several large investors have recently bought and sold shares of CUDA. Wells Fargo & Company MN grew its holdings in shares of Barracuda Networks by 18.5% during the first quarter. Wells Fargo & Company MN now owns 152,787 shares of the communications equipment provider’s stock valued at $3,531,000 after buying an additional 23,901 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Barracuda Networks by 29.7% during the first quarter. First Trust Advisors LP now owns 267,931 shares of the communications equipment provider’s stock valued at $6,192,000 after buying an additional 61,274 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Barracuda Networks by 3.0% during the first quarter. American Century Companies Inc. now owns 286,968 shares of the communications equipment provider’s stock valued at $6,632,000 after buying an additional 8,477 shares during the last quarter. US Bancorp DE grew its holdings in shares of Barracuda Networks by 170.8% during the first quarter. US Bancorp DE now owns 8,226 shares of the communications equipment provider’s stock valued at $191,000 after buying an additional 5,188 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Barracuda Networks by 4.0% during the first quarter. Bank of New York Mellon Corp now owns 122,232 shares of the communications equipment provider’s stock valued at $2,825,000 after buying an additional 4,694 shares during the last quarter. Hedge funds and other institutional investors own 65.98% of the company’s stock.

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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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