$0.17 EPS Expected for Barracuda Networks, Inc. (CUDA) This Quarter
Equities research analysts expect Barracuda Networks, Inc. (NYSE:CUDA) to report earnings of $0.17 per share for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Barracuda Networks’ earnings, with estimates ranging from $0.17 to $0.19. Barracuda Networks reported earnings per share of $0.21 during the same quarter last year, which would suggest a negative year-over-year growth rate of 19%. The company is scheduled to report its next earnings results after the market closes on Tuesday, October 10th.
According to Zacks, analysts expect that Barracuda Networks will report full year earnings of $0.76 per share for the current year, with EPS estimates ranging from $0.74 to $0.79. For the next year, analysts anticipate that the business will post earnings of $0.87 per share, with EPS estimates ranging from $0.76 to $0.92. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Barracuda Networks.
Barracuda Networks (NYSE:CUDA) last announced its earnings results on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.18. Barracuda Networks had a net margin of 2.81% and a negative return on equity of 1,770.56%. The firm had revenue of $94.18 million for the quarter, compared to analyst estimates of $91.18 million. During the same quarter last year, the business earned $0.20 earnings per share. Barracuda Networks’s revenue was up 8.7% compared to the same quarter last year.
A number of analysts have recently weighed in on CUDA shares. Rosenblatt Securities restated a “buy” rating and issued a $30.00 price objective on shares of Barracuda Networks in a research note on Monday, June 26th. Pacific Crest restated an “overweight” rating and issued a $30.00 price objective on shares of Barracuda Networks in a research note on Wednesday, June 28th. Northland Securities restated a “buy” rating and issued a $28.00 price objective on shares of Barracuda Networks in a research note on Friday, June 30th. Robert W. Baird restated a “buy” rating on shares of Barracuda Networks in a research note on Tuesday, July 11th. Finally, Imperial Capital boosted their price objective on shares of Barracuda Networks from $20.00 to $21.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $26.59.
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In other Barracuda Networks news, CFO Dustin Driggs sold 1,250 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $22.85, for a total value of $28,562.50. Following the sale, the chief financial officer now owns 104,221 shares of the company’s stock, valued at approximately $2,381,449.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Diane Honda sold 7,026 shares of the business’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 in the company, valued at approximately $2,290,945.65. The disclosure for this sale can be found here. Insiders sold a total of 2,002,228 shares of company stock worth $48,450,427 in the last three months. Insiders own 13.90% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Wasatch Advisors Inc. bought a new stake in Barracuda Networks in the 2nd quarter valued at $1,759,000. California State Teachers Retirement System increased its holdings in Barracuda Networks by 2.8% in the 2nd quarter. California State Teachers Retirement System now owns 44,551 shares of the communications equipment provider’s stock valued at $1,027,000 after buying an additional 1,200 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in Barracuda Networks in the 2nd quarter valued at $243,000. The Manufacturers Life Insurance Company increased its holdings in Barracuda Networks by 17.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 138,105 shares of the communications equipment provider’s stock valued at $3,186,000 after buying an additional 20,572 shares during the period. Finally, Bluefin Trading LLC bought a new stake in Barracuda Networks in the 2nd quarter valued at $224,000. 65.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Barracuda Networks (NYSE CUDA) traded down 0.45% during mid-day trading on Tuesday, reaching $24.43. 232,058 shares of the company were exchanged. The company’s 50 day moving average price is $23.48 and its 200 day moving average price is $22.72. The firm has a market capitalization of $1.29 billion, a PE ratio of 128.58 and a beta of 3.28. Barracuda Networks has a 12 month low of $19.06 and a 12 month high of $26.69.
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.
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