Barracuda Networks, Inc. (CUDA) Releases Q3 Earnings Guidance
Barracuda Networks, Inc. (NYSE:CUDA) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.17-0.19 for the period, compared to the Thomson Reuters consensus estimate of $0.19. The company issued revenue guidance of $92.5-94.5 million, compared to the consensus revenue estimate of $94.46 million.Barracuda Networks also updated its FY18 guidance to $0.73-0.78 EPS.
Barracuda Networks, Inc. (CUDA) traded up 0.04% during trading on Tuesday, reaching $25.74. The company’s stock had a trading volume of 2,949,017 shares. The stock’s 50 day moving average is $24.20 and its 200-day moving average is $22.91. Barracuda Networks, Inc. has a 52 week low of $19.06 and a 52 week high of $26.69. The firm has a market cap of $1.36 billion, a P/E ratio of 135.47 and a beta of 3.27.
Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings results on Monday, October 9th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, hitting the 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 during the quarter, compared to the consensus estimate of $93.32 million. During the same period in the prior year, the company earned $0.21 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts forecast that Barracuda Networks, Inc. will post $0.76 earnings per share for the current fiscal year.
CUDA has been the subject of several recent analyst reports. Rosenblatt Securities restated a buy rating and issued a $30.00 price target on shares of Barracuda Networks in a report on Monday, June 26th. BTIG Research restated a buy rating and issued a $30.00 price target on shares of Barracuda Networks in a report on Thursday, July 13th. Zacks Investment Research upgraded Barracuda Networks from a hold rating to a buy rating and set a $26.00 price target for the company in a report on Thursday, July 13th. Robert W. Baird restated a buy rating on shares of Barracuda Networks in a report on Tuesday, July 11th. Finally, Northland Securities restated a buy rating and issued a $28.00 price target on shares of Barracuda Networks in a report on Friday, June 30th. 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 assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $26.59.
In other Barracuda Networks 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 transaction, the director now directly owns 2,988,898 shares in the company, valued at $71,793,329.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.
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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.
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