Barracuda Networks, Inc. (CUDA) Announces Quarterly Earnings Results
Barracuda Networks, Inc. (NYSE:CUDA) released its earnings results on Monday. The communications equipment provider reported $0.17 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17, Bloomberg Earnings reports. Barracuda Networks had a negative return on equity of 1,770.56% and a net margin of 2.81%. The company had revenue of $94.30 million for the quarter, compared to analysts’ expectations of $93.32 million. During the same quarter in the previous year, the business posted $0.21 EPS. The business’s revenue for the quarter was up 7.3% on a year-over-year basis.
Barracuda Networks (NYSE:CUDA) traded up 0.04% during midday trading on Tuesday, reaching $25.74. The company had a trading volume of 2,949,017 shares. The company’s 50-day moving average is $24.20 and its 200 day moving average is $22.91. The company has a market cap of $1.36 billion, a PE ratio of 135.47 and a beta of 3.27. Barracuda Networks has a 52-week low of $19.06 and a 52-week high of $26.69.
In other news, Director Michael D. Perone sold 236,987 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $24.02, for a total value of $5,692,427.74. Following the completion of the sale, the director now directly owns 2,988,898 shares of the company’s stock, valued at $71,793,329.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Dustin Driggs sold 5,135 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $24.85, for a total value of $127,604.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,354,783 shares of company stock valued at $57,100,375. Corporate insiders own 13.90% of the company’s stock.
Several brokerages have recently issued reports on CUDA. BidaskClub upgraded Barracuda Networks from a “strong sell” rating to a “sell” rating in a report on Saturday. Rosenblatt Securities reiterated a “buy” rating and set a $30.00 price target on shares of Barracuda Networks in a report on Monday. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price target on shares of Barracuda Networks in a report on Tuesday, September 12th. Stifel Nicolaus reiterated a “buy” rating and set a $32.00 price target on shares of Barracuda Networks in a report on Tuesday, September 12th. Finally, Robert W. Baird reiterated a “buy” rating on shares of Barracuda Networks in a report on Tuesday, July 11th. 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 stock. Barracuda Networks presently has a consensus rating of “Buy” and an average target price of $26.59.
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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