Barracuda Networks, Inc. (CUDA) Downgraded to “Sell” at BidaskClub
Barracuda Networks, Inc. (NYSE:CUDA) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Saturday.
CUDA has been the subject of a number of other research reports. Zacks Investment Research upgraded Barracuda Networks from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Thursday, July 13th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $30.00 price target on shares of Barracuda Networks in a research note on Monday, October 9th. Robert W. Baird reaffirmed a “buy” rating and issued a $29.00 price target on shares of Barracuda Networks in a research note on Wednesday, October 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of Barracuda Networks in a research note on Tuesday, September 12th. Finally, J P Morgan Chase & Co reaffirmed a “buy” rating and issued a $35.00 price target on shares of Barracuda Networks in a research note on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $28.10.
Shares of Barracuda Networks (CUDA) traded down $0.70 during mid-day trading on Friday, reaching $22.29. The company had a trading volume of 1,569,445 shares, compared to its average volume of 1,536,520. The firm has a market capitalization of $1.20 billion, a P/E ratio of 72.74, a price-to-earnings-growth ratio of 6.01 and a beta of 3.22.
Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings data on Tuesday, October 10th. The communications equipment provider reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. Barracuda Networks had a return on equity of 197.30% and a net margin of 2.52%. The company had revenue of $94.30 million during the quarter, compared to the consensus estimate of $93.32 million. During the same quarter in the prior year, the firm earned $0.21 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. sell-side analysts anticipate that Barracuda Networks will post 0.31 earnings per share for the current year.
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In other news, SVP Michael D. Hughes sold 2,015 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $22.60, for a total transaction of $45,539.00. Following the completion of the sale, the senior vice president now owns 155,033 shares of the company’s stock, valued at $3,503,745.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Dustin Driggs sold 1,250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $23.10, for a total transaction of $28,875.00. Following the sale, the chief financial officer now directly owns 102,905 shares of the company’s stock, valued at approximately $2,377,105.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,062,431 shares of company stock valued at $75,302,664. 13.90% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. AlphaMark Advisors LLC increased its holdings in shares of Barracuda Networks by 63.7% during the second quarter. AlphaMark Advisors LLC now owns 44,200 shares of the communications equipment provider’s stock worth $1,019,000 after buying an additional 17,200 shares in the last quarter. Gotham Asset Management LLC increased its holdings in shares of Barracuda Networks by 2.5% in the first quarter. Gotham Asset Management LLC now owns 35,109 shares of the communications equipment provider’s stock valued at $811,000 after purchasing an additional 871 shares in the last quarter. Atria Investments LLC acquired a new stake in shares of Barracuda Networks in the second quarter valued at approximately $204,000. Swiss National Bank increased its holdings in shares of Barracuda Networks by 51.9% in the second quarter. Swiss National Bank now owns 61,500 shares of the communications equipment provider’s stock valued at $1,418,000 after purchasing an additional 21,000 shares in the last quarter. Finally, AHL Partners LLP increased its holdings in shares of Barracuda Networks by 82.6% in the second quarter. AHL Partners LLP now owns 35,326 shares of the communications equipment provider’s stock valued at $815,000 after purchasing an additional 15,983 shares in the last quarter. 65.55% of the stock is owned by institutional investors.
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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