Barracuda Networks, Inc. (CUDA) Releases FY18 Earnings Guidance
Barracuda Networks, Inc. (NYSE:CUDA) updated its FY18 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.73-0.78 for the period, compared to the Thomson Reuters consensus estimate of $0.75. The company issued revenue guidance of $370-380 million, compared to the consensus revenue estimate of $377.37 million.Barracuda Networks also updated its Q3 guidance to $0.17-0.19 EPS.
Several equities research analysts recently weighed in on the company. Rosenblatt Securities restated a buy rating and issued a $30.00 target price on shares of Barracuda Networks in a report on Monday. BidaskClub raised Barracuda Networks from a strong sell rating to a sell rating in a research report on Saturday. Needham & Company LLC reaffirmed a buy rating and issued a $28.00 price target on shares of Barracuda Networks in a research report on Tuesday, September 12th. Stifel Nicolaus reaffirmed a buy rating and issued a $32.00 price target on shares of Barracuda Networks in a research report on Tuesday, September 12th. Finally, BTIG Research reaffirmed a buy rating and issued a $30.00 price target on shares of Barracuda Networks in a research report on Saturday, July 22nd. Two research 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. The stock currently has a consensus rating of Buy and an average target price of $26.59.
Shares of Barracuda Networks, Inc. (NYSE CUDA) traded up 0.04% during mid-day trading on Tuesday, reaching $25.74. The company’s stock had a trading volume of 2,949,017 shares. The firm has a 50 day moving average price of $24.20 and a 200 day moving average price of $22.91. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 135.47 and a beta of 3.27. Barracuda Networks, Inc. has a 52-week low of $19.06 and a 52-week high of $26.69.
Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings results on Monday, October 9th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. 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 analyst estimates of $93.32 million. During the same quarter last year, the company posted $0.21 EPS. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities analysts predict that Barracuda Networks, Inc. will post $0.76 EPS for the current fiscal year.
In related news, CFO Dustin Driggs sold 1,250 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $22.63, for a total transaction of $28,287.50. Following the sale, the chief financial officer now owns 105,471 shares of the company’s stock, valued at approximately $2,386,808.73. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael D. Perone sold 236,987 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $24.02, for a total value of $5,692,427.74. Following the sale, the director now directly owns 2,988,898 shares in the company, valued at approximately $71,793,329.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,354,783 shares of company stock worth $57,100,375. Corporate insiders own 13.90% of the company’s stock.
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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.
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