Barracuda Networks, Inc. (NYSE:CUDA)‘s stock had its “buy” rating reaffirmed by stock analysts at J P Morgan Chase & Co in a research note issued to investors on Wednesday. They presently have a $35.00 price objective on the communications equipment provider’s stock. J P Morgan Chase & Co’s target price points to a potential upside of 54.53% from the stock’s current price.

CUDA has been the subject of several other research reports. Zacks Investment Research raised Barracuda Networks from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Thursday, July 13th. BidaskClub raised Barracuda Networks from a “strong sell” rating to a “sell” rating in a report on Friday, September 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Barracuda Networks in a report on Monday. Pacific Crest reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of Barracuda Networks in a report on Wednesday, June 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Barracuda Networks in a report on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Barracuda Networks currently has a consensus rating of “Buy” and an average target price of $27.25.

Barracuda Networks (NYSE:CUDA) traded down 12.00% on Wednesday, hitting $22.65. The stock had a trading volume of 8,417,037 shares. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 119.21 and a beta of 3.27. Barracuda Networks has a 52 week low of $19.06 and a 52 week high of $26.69. The firm has a 50-day moving average of $24.20 and a 200 day moving average of $22.91.

Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings data on Tuesday, October 10th. The communications equipment provider reported $0.17 EPS for the quarter, hitting 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 during the quarter, compared to analyst estimates of $93.32 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. Barracuda Networks’s revenue was up 7.3% compared to the same quarter last year. On average, analysts predict that Barracuda Networks will post $0.76 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This news story was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another website, it was copied illegally and reposted in violation of US & international trademark and copyright law. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/10/11/barracuda-networks-inc-cuda-earns-buy-rating-from-j-p-morgan-chase-co.html.

In other news, Director Michael D. Perone sold 322,898 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $24.50, for a total value of $7,911,001.00. Following the completion of the transaction, the director now owns 2,361,012 shares of the company’s stock, valued at $57,844,794. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael D. Perone sold 236,987 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $71,793,329.96. The disclosure for this sale can be found here. In the last ninety 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.

Large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its position in shares of Barracuda Networks by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,793 shares of the communications equipment provider’s stock worth $111,000 after buying an additional 717 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of Barracuda Networks in the second quarter worth about $113,000. Legal & General Group Plc lifted its position in shares of Barracuda Networks by 15.7% in the second quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider’s stock worth $140,000 after buying an additional 828 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Barracuda Networks by 2.9% in the first quarter. Asset Management One Co. Ltd. now owns 6,276 shares of the communications equipment provider’s stock worth $146,000 after buying an additional 177 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Barracuda Networks by 17.6% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,374 shares of the communications equipment provider’s stock worth $167,000 after buying an additional 1,104 shares in the last quarter. Institutional investors own 65.96% of the company’s stock.

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)

Receive News & Ratings for Barracuda Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barracuda Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.